Is $XRP preparing for a new launch?
Technical signals open the door for a golden opportunity
Technical Analysis - XRP/USDT
Current price: $2.2481
Daily change: +2.58%
Technical indicators say a lot:
The price bounced from a strong support level at 2.0777
The last candle is strongly green with no upper wick ➜ Clear buying pressure
RSI at 50.5 ➜ Neutral zone allowing for more upward movement
A bullish crossover has started to form on the MACD ➜ Deceleration of the downward momentum and possibility of a reversal
The price is above the 10 and 5 moving averages ➜ Beginning of a positive movement
Suggested trading strategy:
Ideal entry zone:
Between 2.22 and 2.24
Stronger confirmation upon breaking 2.26 with a candle of volume higher than average
Nearby price targets:
First target: 2.36
Second target: 2.47
Third target (optional): 2.65 if momentum continues
Suggested stop loss:
Below 2.18 to protect against a downward reversal
Type of trade:
For beginners: Spot trading
For professionals: Low leverage contracts
Question for the audience:
Do you think XRP is capable of regaining its momentum and breaking 2.50 soon?
Or is there strong resistance that will hinder the rise?
Share your opinion and analysis in the comments 👇
