XRPUSD – bulls are regaining control after pullback found firm ground at $3.00 zone

XRPUSD rose to five-day high on Monday, extending recovery into third straight day. Fresh gains cracked 50% retracement of $3.6522/$2.9525 pullback, adding to growing signals that correction might be over.

Repeated rejection at $3 support zone, formation of a bear-trap pattern and subsequent bounce pointed to strong bids and signal that larger bulls regained control, adding to scenario of so-called healthy correction (pullback was contained at Fibo 38.2% of $1.9080/$3.6653 bull-leg) before larger bulls resume.

Daily studies are predominantly bullish and support the notion, though clear break of $3.3025 (50% retracement / daily Tenkan-sen) is required to verify bullish signal and open way for further recovery.

Res: 3.3024; 3.3308; 3.3849; 3.4227
Sup: 3.1887; 3.1176; 3.0941; 3.0690