$XRP /USDT Analysis: Key Levels and Trade Strategy
The XRP/USDT chart on Binance (4-hour timeframe) shows that the price is currently consolidating between key support at 2.00 and resistance at 2.20.
Major high: 2.9707, followed by lower highs at 2.6317, 2.4897, and 2.5997.
Consolidation phase: Price is range-bound, awaiting a breakout or breakdown.
Trade Setup:
1. Bullish Scenario:
Entry: Confirmed breakout above 2.20.
Take Profit (TP):
TP1: 2.45
TP2: 2.60
TP3: 2.97 (previous high)
Stop Loss (SL): Below 2.10 to protect against false breakouts.
2. Bearish Scenario:
Entry: Breakdown below 2.00.
Take Profit (TP):
TP1: 1.85
TP2: 1.70
Stop Loss (SL): Above 2.05 to minimize losses if the price reverses.
Monitoring volume and confirmation signals before entering either scenario is recommended to validate the setup. Let me know if you need further assistance or adjustments to the strategy.
