$XRP /USDT: Range-Bound - Wait for the Breakout
Consolidation Phase:
$XRP /USDT is trading sideways between support near $2.1700 and resistance around $2.2100. This extended consolidation indicates market indecision, and premature trades risk getting caught in fakeouts.
Trade Strategy:
- Wait for Breakout/ Breakdown: No active trade until a clear breakout or breakdown occurs.
- Long Entry: Above $2.2100 after retest confirmation.
- Short Entry: Below $2.1700 after retest confirmation.
- Invalidation: False spikes without volume or structure retest.
Market Analysis:
The sideways structure reflects low momentum. Focus on clean structure breakouts for higher probability setups, and avoid entering during choppy markets.
