XRPUSD Ascends to an Unmitigated Order Block

XRPUSD is currently ascending to a bearish order block at the $0.450 supply level. The bearish order block was the last pushup in the price action before the 37% market crash, which occurred from the 5th of November until the 9th of November. The consolidation was prominent in October when the sellers tested the $0.450 critical level multiple times till it gave way. The bearish block at $0.450 was unmitigated before the market finally dived to $0.340. On the 2nd of January, a Doji Dragon Fly candle signified a trend change from bearish to bullish. The fair value gap formed on November 8 shows the areas of market inefficiency created due to the speed of the price decline. The market is currently ascending to the bearish order block at $0.450. The buyers also cover the areas of inefficiency in the market.

Ripple Key Levels

Supply Levels: $0.400, $0.420, $0.450
Demand Levels: $0.340, $0.320, $0.300

What Is the Indicator Saying?

After the market crash, most of the daily candles closed below the Bollinger Bands’ midline, which signifies bearishness. Since the break above the bearish trendline, the daily candles have been closing above the Bollinger Band’s middle line. The market is expected to rise to $0.450.

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