$XRP 🕵️♂️ Daily Chart (1D Analysis) Observations:
The price is in a falling wedge (bullish reversal pattern).
It is now consolidating around strong support at ~2.00, near a prior demand zone.
A parabolic curve is forming, suggesting potential for reversal to the upside.
There’s a fair value gap (FVG) just below around 1.70–1.85, acting as a secondary support.
Potential Long Setup:
Entry: 2.03 (near current price & wedge support)
Stop Loss (SL): 1.90 (below curve & wedge breakout level)
Take Profit (TP): 2.83 (top of previous structure)
Risk : Reward Ratio (RRR): ~6:1
⏱️ 4H Chart Analysis Observations:
Price is hovering just above support (~2.00) and showing possible wick rejections.
200 EMA is above price, showing current bearish trend, but we’re near higher time frame reversal zone.
Trade Confluence:
Entry near wedge bottom + psychological level + potential curve support.
If price holds above 1.99–2.00, this could act as a springboard for reversal.
🔖 Summary of Trade Idea:
Parameter Value
Entry2.03
SL1.90TP2.83
R:R 6:1
Confirmation Daily wedge + parabolic curve + FVG + 4H support holding
$XRP
