Long but cautious on XRP. LONGing for $0.65-$0.80

XRPUSDT

The bears are attempting to initiate a correction in XRP after an unsuccessful try to push the price above the resistance zone of $0.56-$0.58 on April 14.

If the bears succeed in pulling the price below the 20-day EMA ($0.50), the XRP/USDT pair could drop down to the 50% Fibonacci retracement level of $0.47. However, this level may attract strong buying interest from the bulls, as a break below it could lead to a major support level at $0.43.

To avoid this bearish scenario in the short term, the bulls need to push the price above the overhead zone. In this case, the pair may accelerate its upward movement towards $0.65, and later to $0.80.

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