📈 Technical Analysis
• Nearby resistance: $2.36, $2.60, $3.00
• Strong support: $2.00, $1.90, $1.70
• RSI indicator (1D): 58 – still room for increase before entering overbought territory
• MACD (4H): Bullish crossover – short-term bullish signal
• Trading volume: Increased by 40% in the past 24 hours, indicating rising interest from investors.
The 4-hour chart shows XRP in a strong uptrend, with technical indicators supporting this momentum. However, the RSI is near overbought territory, indicating caution is needed for potential short-term corrections.
⸻
📰 Featured News
• Ripple reaches agreement with SEC: Ripple has reached an agreement with the U.S. Securities and Exchange Commission (SEC), alleviating legal pressure and facilitating the development of XRP.
• CME preparing to launch XRP futures: CME Exchange is expected to launch XRP futures on May 19, 2025, opening up access to XRP for institutional investors.
• Speculation about BlackRock's XRP Spot ETF: Rumors about BlackRock filing for an XRP Spot ETF have driven XRP's price to surge, reaching a 7-week high.
⸻
📊 Trading Strategy
Scenario 1 – Open Long Position
• Reason for entry: Price broke above the resistance level of $2.36 with strong trading volume, confirming the uptrend.
• Entry zone: $2.35 – $2.40
• Stop-loss (SL): $2.20 (Below the nearest support)
• Take-profit 1 (TP1): $2.60
• Take-profit 2 (TP2): $3.00
• Probability of success: 70% (Based on technical signals and strong inflow)
Scenario 2 – Open Short Position
• Reason for entry: Price could not maintain above $2.36 and shows signs of a bearish reversal.
• Entry zone: $2.36 – $2.40
• Stop-loss (SL): $2.50 (Above the nearest resistance)
• Take-profit 1 (TP1): $2.20
• Take-profit 2 (TP2): $2.00
• Probability of success: 60% (Based on the potential for a correction after a strong rally)
Note: The market is in an exuberant state; tight risk management is needed, and technical signals should be closely monitored.
⸻l
🔗 XRP Trading
