$XRP – PRICE ACTION INDICATES A POTENTIAL REVERSAL ZONE IS FORMING NEAR THE CURRENT LEVELS

Trading Plan LONG $XRP

Entry: 1.35-1.40

SL: 1.25

TP: 1.50

TP: 1.70

TP: 2.00

THE CURRENT MARKET SENTIMENT OF EXTREME FEAR WITH A SENTIMENT SCORE OF 13 SUGGESTS THAT THE MARKET MAY BE OVERSOLD AND DUE FOR A REVERSAL. THIS TRADE MAKES SENSE AS THE PRICE ACTION IS INDICATING A POTENTIAL BOTTOM FORMATION. THE LACK OF AVAILABLE DATA ON THE RSI AND SMAS MAKES IT DIFFICULT TO JUSTIFY THE DIRECTION BASED ON THESE INDICATORS, HOWEVER, THE CURRENT MARKET STRUCTURE AND SENTIMENT SUGGEST A BULLISH MOVE MAY BE IMMINENT. THE MOMENTUM APPEARS TO BE SHIFTING IN FAVOR OF THE BULLS AS THE PRICE ACTION IS HOLDING ABOVE THE RECENT LOWS. OVERALL, THE COMBINATION OF THE CURRENT MARKET SENTIMENT AND PRICE ACTION MAKES A STRONG CASE