The market is still hesitant, but signs of stability are beginning to appear. After falling from 2.3370 to around 2.13, buying candles began to appear with a solid trading volume. This may be the first indicator of the end of the correction wave.
The risk exists, but it is relatively low compared to the potential return. The price was close to 2.33 a few days ago, and returning to this level only requires a positive moral boost from the market.
$XRP
The last candle indicates the entry of liquidity, and the MACD is in a state of slight positive divergence, although it has not yet given a bullish crossover. The RSI is in a neutral zone (around 50), which opens the door for further gains without being overbought.
How to enter?
Gradual entry is preferred now: partial purchase, up to 25%-30% of the amount to be invested.
If a strong reversal candle (Bullish Engulfing or Marubozu) appears in the coming hours, the purchase can be reinforced.
Place a stop loss below 2.11 (bottom of the last candle).
Targets:
First target: 2.24 (short-term resistance).
Second target: 2.30 - 2.33 (testing the previous peak).
$XRP
Why is this an opportunity?
Fear controls the market, and most traders are either out of the market or selling at support. Here opportunities arise. Buying in hesitation often gives better results than buying in general enthusiasm.
$XRP
Technical analysis says we are at the end of a bearish cycle. Psychological analysis shows a general fear. Together, they give a strong probability of an upward trend. Do not buy randomly, but do not wait for late signals from the media. The chart speaks first.
