Updated Swing Trade Setup for $XRP (1–4 Weeks):
Trade Type: Long (Buy)
Entry Zone: $2.30 – $2.40
Take Profit Targets:
Target 1: $2.85
Target 2: $3.40
Stop Loss: $2.10
Timeframe: 1 to 4 weeks
Confidence Level: Moderate to High
Technical & Fundamental Rationale:
Bullish Momentum: XRP has shown a strong upward trajectory, forming higher lows and testing resistance around $2.39.
Support Levels: Strong support has been established around the $2.30 level, with buyers stepping in during high-volume periods.
Resistance Levels: Immediate resistance is observed around $2.44, with a more significant resistance near $2.60. A breakout above these levels could pave the way toward higher targets.
Institutional Interest: Ripple's expansion into new financial markets, particularly in the Middle East and Asia, is fueling optimism around XRP. Strategic partnerships are positioning XRP as a leading solution for fast, low-cost cross-border payments.
Regulatory Developments: The recent resolution of Ripple's legal issues with the SEC has removed significant barriers to adoption, contributing to positive market sentiment.
Risk Management:
$Position Sizing: Limit exposure to 1–2% of your total capital.
Monitoring: Stay alert for any sudden market changes or news that could impact XRP's price.