As of now, XRP is trading around $2.23, with an intraday range from $2.20 to $2.25. The market is in an accumulation phase, awaiting clear signals from technical factors and market news.
1. H4 Chart - Symmetrical Triangle Pattern
The price is forming a symmetrical triangle pattern, with a peak near $2.25 and a bottom around $2.20.
Trading volume is gradually decreasing, indicating market hesitation before a breakout.
2. Technical Indicators
RSI (14): Fluctuating around 50, indicating the market is in a neutral state.
MACD: The MACD line crosses above the signal line, creating a potential buy signal.
📈 Short-term Future Trading Strategy
Based on technical analysis, below are the suggested trading strategies:
Scenario 1: Buy when breakout above $2.25
Entry Point: $2.26
Take Profit (TP): $2.40
Stop Loss (SL): $2.20
Success Probability: 65%
Scenario 2: Sell when breakdown below $2.20
Entry Point: $2.19
Take Profit (TP): $2.10
Stop Loss (SL): $2.25
Success Probability: 60%
Scenario 3: Range Trading
Buy at support: $2.20
Sell at resistance: $2.25
Stop Loss (SL): $2.18 (for buy order), $2.27 (for sell order)
Success Probability: 70%
📰 Summary of XRP-related news in the last 24 hours
1. Ripple locked 700 million XRP in escrow
Ripple has transferred 1 billion XRP, of which 700 million XRP is locked in escrow, to reduce selling pressure in May.
2. Meeting between Ripple's CEO and SEC Chairman
Ripple's CEO, Chris Larsen, is scheduled to meet SEC Chairman Paul Atkins on May 2, 2025 (US time), raising hopes for a resolution to the lawsuit between Ripple and the SEC.
3. Expectations for XRP ETF
The market is awaiting the SEC's decision on the approval of the ETF for XRP, which could create strong upward momentum if approved.
📊 Summary
XRP is in an accumulation phase, with technical factors and market news potentially creating a breakout in the near future. Investors should closely monitor key support and resistance levels, along with related news to make informed trading decisions.