Hello Binance Square family! 👋
XRP is making waves again as it remains strong above key support and signals a bullish breakout on the weekly chart! With strong momentum building, this may be the time XRP bulls have been waiting for! Let's break it down:
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📊 Snapshot of the current market
Current price: $2.42
Entry Zone: $2.40 – $2.45
Stop Loss (SL): $2.00
Support Level: $2.40
Resistance Level: $2.70
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🎯 Trade Setup: Eyes on the prize!
Entry price: $2.42
Stop Loss (SL): $2.00
Take Profit (TP) Targets:
TP1: $2.55
TP2: $2.70
TP3: $2.85
TP4: $3.00
TP5: $3.20
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🔍 Weekly Chart Analysis
Bullish reversal candle: Last week's candle showed a long wick to the downside, indicating buyer strength near $2.40.
Strong support remains: $2.40 has acted as a base, with buyers continuing to defend it.
Increasing momentum: MACD and RSI indicators are flattening - potential signs of an upcoming move.
Steady volume: No panic selling - just quiet accumulation.
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🧠 Professional tips for traders
A breakout above $2.70 could lead to the next phase. Stay tuned!
Use $2.00 as a hard stop loss to effectively manage downside risk.
Patience is key - weekly setups may take time to complete, but they offer great potential!
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XRP shows resilience at $2.44... and if the bulls can push it above $2.70, we could see fireworks!
Stay sharp, trade smart, and we wish you achieve your goals!
Not financial advice. Always do your own research and manage risks properly.
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