$XRP
( Our Previous Prediction Post about XRP bullish )
๐ Technical Analysis Overview:
Downtrend Channel: XRP has been in a descending channel since early May.
Breakout: The latest candle shows a clear breakout above the channel, potentially signaling a bullish reversal.
RSI: Around 64 โ bullish momentum building but not yet overbought.
Key Levels:
Support: 2.20 and 2.00 psychological (also previous structural support).
Resistance: 2.35 โ 2.50 (prior consolidation before breakdown).
โ Trade Setup 1: Breakout Long (Trend Reversal Play)
Entry:
On minor pullback to retest the breakout level near 2.20 โ 2.25
Stop-Loss:
Below previous resistance / mid-channel line: 2.16
Target:
TP1: 2.35 (previous lower high)
TP2: 2.48 โ 2.50 (next supply zone)
TP3: 2.65 (previous major swing high)
Risk-to-Reward (approx):
R:R = 1:2.5 (TP1)
R:R = 1:4 (TP2)
R:R = 1:6 (TP3)
โ ๏ธ Only take this setup if the retest holds with bullish confirmation (e.g., engulfing or pin bar on 1H/4H).
๐ Trade Setup 2: Fakeout Short (If rejection occurs near 2.30โ2.35)
Entry:
If price forms a bearish engulfing / rejection wick around 2.30 โ 2.35.
Stop-Loss:
Above the rejection wick / above 2.37
Target:
TP1: 2.20
TP2: 2.00
TP3: 1.99 (major demand zone)
Risk-to-Reward:
R:R = 1:2 (TP1)
R:R = 1:3+ (TP2)
R:R = 1:4.5 (TP3)
