IS THIS A BULLISH SETUP FOR XRP?

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Hello everyone,

as you can see in the chart XRP, after the pump, has fallen to reach the trendline, previously resistance, which now seems to act as support.
The same point corresponds to the typical fibonacci retracement level, 0.702, now acts as a support.
Can this scenario be considered as a bullish setup invalidating the hypothesis of a possible major correction??

We can see also bitcoin and the total altcoin market cap fighting against their ATH. If they broke it, it could means something good for XRP too??

This is only a speculation idea.
I hope for some feedback :)

Have a nice day.

**NOT financial advice, everyone do their own research**

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ملاحظة

It seems more like XRP is in a corrective phase, given the correction that bitcoin is going through and with it the entire crypto market.

It is likely that XRP will fall to touch the support trend line, at which time we will need to monitor the situation, if the support holds it could be an indication of a bottom to a new high, otherwise it could fall further towards 0.30-0.20 cents.