XRP Technical Analysis (Price: $2.2358)
1. Trend Overview:
As long as the price stays above $2.20, it shows bullish momentum.
The zone between $2.25 – $2.30 is a potential resistance area where the price might face selling pressure.
Support levels are likely around $2.10 and $2.00.
2. Indicators Overview:
RSI (Relative Strength Index): If above 70, XRP might be overbought, and a short-term correction is possible.
Moving Averages (like 20 EMA / 50 EMA): If the price is above these, the trend is strong and bullish.
3. Possible Scenarios:
Bullish Scenario: If XRP breaks above $2.30 with strong volume, the next targets could be $2.50 to $2.70.
Bearish Scenario: If it breaks below $2.20, the price might fall toward $2.00 or even $1.85.
4. Scalping Strategy Example:
Entry: Near $2.20 (support)
Take Profit (TP): $2.28 – $2.30
Stop Loss (SL): Around $2.17 or below
