• Vasily Trader

XRPUSD: Aggressive Buying, When and How:

XRPUSD dropped to a strong daily/4h structure support level.

On that, the market is consolidating for 2 consequent trading days.

Analyzing the price action on hourly, we see a double bottom formation with a higher low.

0.395 is its local minor resistance.

Bullish violation of that (hourly candle close) can be a perfect trigger to buy XRP.

With stop below the local hourly lows, a potential risk to reward is sweet.

Remeber that in case if the price drops below current lows, setup will be invalid and we will wait until the market will reach the next key level.