XRPUSD's Recent 11% Gains Targets 2 FVGs

XRPUSD has taken its bears by surprise after finding trust-worthy acceptance just a little bit below the crucial 78.60% fib retracement from the previous local high at $0.36+.

Yesterday's 11% gain has created a momentum for the bulls looking a re-test on FVG (fair value gap) levels that formed last August 18's BiS (break-in support) and the strong short squeezing moves on August 26 confirming a total rejection. That's the bulls' 1st FVG target at $0.37. Friday's daily candle close above $0.35 which is a good sign.

Should price falls back momentarily again, at least a good long position at $0.3433 mark where bulls reposition themselves.

Stop loss at will on the $0.3311 mark.

2nd FVG target for the bulls will be $0.3871 as the max target of this plan. Taking profit on the 1st FVG level is reasonable.

This trade plan can drag more time and has a realized 3.59 risk:reward ratio.

Original article written by me:

https://www.finlogix.com/analysis/20220917/xrpusds-recent-11-gains-targets-2-fvgs