$XRP /USDT nears key support, potential bounce ahead

$XRP /USDT is trading at $2.0554, down 6.21% in the last 24 hours. The pair tested its 24-hour low at $2.0496 after facing selling pressure near the $2.1946 resistance.

Key Market Data

Current Price: $2.0554

24H High: $2.1946

24H Low: $2.0496

24H Volume: 174.10M XRP / 368.35M USDT

Support and Resistance Levels

Support Levels:

$2.0490 – Immediate support zone

$2.0350 – Stronger support to watch for potential bounce

Resistance Levels:

$2.0800 – First key resistance

$2.1200 – Strong resistance zone to break for bullish momentum

Trade Setup and Targets

Entry Zone: $2.0500 – $2.0600, an ideal range to accumulate

Target Points:

TP1: $2.0800 – Initial target

TP2: $2.1200 – Strong resistance area

TP3: $2.1500 – Extended target with bullish confirmation

Stop Loss: $2.0350, to protect against deeper pullback

Market Sentiment and Indicators

STOCH RSI at 10.74 suggests oversold conditions, indicating a possible bounce.

Buy pressure at 56.59%, showing moderate bullish interest despite the dip.

Trading volume remains high, signaling active market participation.

Pro Tip

Look for a reversal confirmation around $2.0500 with volume spikes. A 15-minute candle close above $2.0800 may trigger further upside.

XRP/USDT is near critical support levels and may be preparing for a bounce. Monitoring price action near $2.0500 could offer a favorable buying opportunity.