when

Orange

Spot

<ul class="wp-block-list">
  
 <li>A new demand zone in XRP’s orange-marked area presents low risk/reward trading opportunities.</li>   
 <li>Traders are monitoring price retests of the orange zone for potential long positions.</li>   
 <li>Spot holders may benefit by waiting for significant price milestones like double digits.</li> 
</ul>   
<p>XRP has recently shown appropriate price movement and a new demand <a href="https://cryptonewsland.com/xrp-battles-key-levels-2-70-breakout-critical-for-bulls-1-96-support-holds-the-line/" target="_blank" rel="noreferrer noopener">level</a> has formed in the critical orange marked area. This new move plan is not lost on intraday geared traders looking for trade entry on what seems to be a favorable risk to reward set up. Although the spot holders may not be able to take much concrete action at this point in time the formation of this figure paves way for some quite potential trades in terms of price action.</p>   
<h2 class="wp-block-heading" id="h-evolving-local-needs-and-their-importance">Evolving Local Needs and Their Importance</h2>   
<p>The most recently established orange zone is a local buyer demand zone where a buyer bounce is expected to help support<a href="https://cryptonewsland.com/xrps-1-26-peak-can-it-break-higher-or-reverse-to-support-zones/" target="_blank" rel="noreferrer noopener"> XRP</a>. Generally these zones play the role of important pivot points where traders can capture long entries in case of retest. It may be a good advantage for those who are looking at the short-term goal to be aware of the price’s action.</p>   
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   https://twitter.com/CredibleCrypto/status/1866973748718604538 
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<p>Demand zones are an element of technical analysis which recognizes the purchase interest in the market as a support area. In this respect, the orange zone is well-placed to act as a buffer that offers traders a margin of protection in case the price range drops even lower.</p>   
<h2 class="wp-block-heading" id="h-potential-scenarios-for-traders-with-cautious-optimism-nbsp">Potential Scenarios for Traders with Cautious Optimism&nbsp;</h2>   
<p>Bearish traders are waiting for price action (PA) to revisit the orange zone. These retests could confirm the zone as support and offer cheaper long entries in the indicator where there was a dip. In the ideal world, prices would behave as expected within the confines of the zone and this would provide good evidence that the zone is a good place through which to start upward moves.</p>   
<p>However, when it comes to spot holders the concept of these setups is rather different from its use by short-term traders. According to the long-term perspective, spot investors need to continue to be patient on their investments and wait for value penetrations of the levels through psychological barriers such as double-digit valuation metrics.The main question, of course, arises concerning further price dynamics in the short-term perspective.</p> 
<p>The post <a href="https://cryptonewsland.com/xrps-orange-zone-creates-fresh-trade-setups/">XRP’s Orange Zone Retest: A Low Reward Opportunity for Traders</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

XRP’s Orange Zone Retest: A Low Reward Opportunity for Traders

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