There is always the possibility of a retrace developing after a major move and this retrace can turn into a correction, it can happen.
When support is confirmed, a bullish continuation is the norm.
Here we have XRPUSDT and my intention is to focus on the short-term. The next move.
The orange trendline worked as resistance until 22-April when it was broken. XRPUSDT now trades above this magic line. The next day, it found resistance at 0.5 Fib. extension and moved down to test this upper-boundary trendline as support and it holds.
This action is happening after a major correction low has been confirmed with zero volume. The zero volume reveals that bears are not present. No new lows reveals the same.
The trendline has just been broken and XRP is moving sideways, consolidating. This consolidation will lead to a bullish continuation. The next move is up.
Additional details on the chart—targets.
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