Trisha_Saha
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Ripple (XRP) Daily Time-frame Head and Shoulders
$XRP
Hello traders,
In today’s altcoin analysis, we’re taking a closer look at Ripple (XRP) on the daily timeframe. XRP is currently sitting at a crucial support level, and the technical structure is showing signs of potential weakness if this level breaks.
Key Technical Points:
• Head & Shoulders Pattern: Price is forming a textbook head and shoulders with price currently testing the neckline support.
• Critical Support Test: A breakdown from this neckline could trigger a move toward the descending channel support.
• High Timeframe Target: If support fails, the next major level to watch is around $0.49, which aligns with a key high timeframe support zone.
At this point, XRP is in a make-or-break position. Holding the neckline may result in a short-term bounce, but the broader structure remains bearish unless bulls reclaim higher levels with strength.
A confirmed breakdown with multiple candle closes below the neckline, especially on rising volume, will significantly increase the probability of further downside. For now, patience is key—wait for confirmation before positioning for the next major move.
🚨🚨
👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸
Binance Square Family...❤️🔥❤️🔥
I hope my analysis has been helpful to you. If you have any questions, please leave a comment. I'm always happy to help.
I appreciate your support and Wish you good luck 💐🌺🍁
Hello traders,
In today’s altcoin analysis, we’re taking a closer look at Ripple (XRP) on the daily timeframe. XRP is currently sitting at a crucial support level, and the technical structure is showing signs of potential weakness if this level breaks.
Key Technical Points:
• Head & Shoulders Pattern: Price is forming a textbook head and shoulders with price currently testing the neckline support.
• Critical Support Test: A breakdown from this neckline could trigger a move toward the descending channel support.
• High Timeframe Target: If support fails, the next major level to watch is around $0.49, which aligns with a key high timeframe support zone.
At this point, XRP is in a make-or-break position. Holding the neckline may result in a short-term bounce, but the broader structure remains bearish unless bulls reclaim higher levels with strength.
A confirmed breakdown with multiple candle closes below the neckline, especially on rising volume, will significantly increase the probability of further downside. For now, patience is key—wait for confirmation before positioning for the next major move.
🚨🚨
👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸
Binance Square Family...❤️🔥❤️🔥
I hope my analysis has been helpful to you. If you have any questions, please leave a comment. I'm always happy to help.
I appreciate your support and Wish you good luck 💐🌺🍁
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.