Ripple (XRP) technical analysis:
Trade setup: Price briefly broke below 200-day Moving Average (200 SMA of $1.85) but has recovered back above that critical level and could revisit $2.50 resistance next. XRP had been under regulatory pressure from the SEC, which is likely to dissipate under the new White House administration. There’s also a possibility of an XRP Spot ETF launch in 2025. (set a price alert). Learn to trade breakouts in Lesson 7 and Risk Management in Lesson 9.
Pattern: Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7.
Trend: Short-term trend is Down, Medium-term trend is Down, Long-term trend is Neutral.
Momentum is Bullish (MACD Line crossed above MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $2.00, then $1.60. Nearest Resistance Zone is $2.50, then $3.00.#XRPETF
