Hey Binance Square fam! 🌟 Let's break down the XRP/USDT setup from TradingView’s “Do you want to slurp?” chart—with extra insights, strategy ideas, and that friendly Binance Square flair. No credits, just solid analysis!
🔍 Chart Setup & Price Action
1. Strong Support Around $2.10–$2.18
XRP is holding steady at a solid demand zone (~$2.10–2.18), which has already seen multiple bounces on the 6H and 16H charts. Buyers stepping in here suggest a classic “slurp” dip-zone play, ideal for a rebound scenario .
2. Bear Flag or Triangle on Larger Timeframes
On the 4H to daily range, XRP is consolidating in a bear flag or descending channel. This implies either a breakout to the upside or a continued neutral drift .
3. Key Resistance Zones
Immediate resistance at $2.24–2.27, matching the upper flag/channel trendline .
Further resistance near $2.30–2.33, where multiple technical levels converge .
4. Technical Indicators in the Mix
Mixed signals: Weekly ADX doesn’t show a strong trend yet (ADX ~24) .
Volume support noted during breakouts and re-tests – especially above $2.05–2.10 .
---
🎯 Binance Square Trade Plan
✅ Bullish Bounce Setup
Entry: Wait for a solid bounce candle closing above $2.18–2.20 on 6H–16H charts.
Stop-Loss: Just below demand—around $2.08 or the candle low.
Targets:
TP1: $2.30 (higher resistance)
TP2: $2.40–2.45, aligning with the upper channel/falling wedge breakout zone .
⚠️ Watch for Breakout or Breakdown
Upside Breakout: Sustained close above $2.30–2.33 on volume could signal a run toward $2.60 or even $2.80–2.86 (previous highs) .
Downside Risk: If XRP drops below $2.05 or $2.00 on strong volume, we may see further retest of $1.90–1.80, with a possible sweep to $1.60 .
---
✅ Risk Management: Binance Square Style
Volume Confirmation is essential—especially around bounce and breakout zones.
Candlestick Clarity: Wait for clean rejections or breakout candles (no wicks crossing trendlines).
Regulatory & Macro Watch: XRP is sensitive to Ripple/SEC news and Bitcoin & general crypto trends.
Define Risk: Always set a stop and position size to limit downside.
---
📌 Summary Table
Scenario Trigger Stop-Loss Target Range
📈 Bullish Bounce Clear bounce above $2.18 <$2.08 $2.30 → $2.40–2.45
🚀 Breakout Upside Close above $2.30–2.33 <$2.24 $2.60 → $2.80+
📉 Breakdown Bearish Drop below $2.05 on volume >$2.10 $1.90 → $1.80, $1.60
---
🧠 Final Thoughts
XRP is inviting us to “slurp” the support between $2.10–2.18 with a bounce opportunity. But timing matters—wait for confirmation (bounce, breakout, or breakdown) to avoid traps. With key breakout zones at $2.30–2.33 and potential upside to $2.60 and beyond, it’s a setup worth watching—Binance Square style.