$XRP

– The bulls are regaining control! Strong breakout from a key support area

The price rebounded sharply from the $2.0671 level, which served as a strong support area. After several hours of consolidation, the price broke out strongly upwards, confirming its short-term strength on the hourly chart. A bullish engulfing pattern followed by continuous green candles shows buyer control.

Analysis:

Ripple tested the $2.07 support level multiple times and maintained its stability.

Trading volume is increasing, indicating accumulation by the bulls.

The current price is forming higher highs and higher lows - a traditional bullish signal.

The rejection from the $2.1556 level (the highest point in 24 hours) is temporary; it is very likely to be retested.

Trading Setup:

✅ Entry Point: $2.13 (current market price)

🎯 Target 1: $2.18

🎯 Target 2: $2.21

❌ Stop Loss: $2.09 (below the last consolidation area)

Time Frame: One Hour - Short-term Trading Setup

Risk-to-Reward Ratio:

The risk-to-reward ratio for this trade is positive, with limited downside potential and strong upside potential if the bullish momentum continues.

> Watch for volume confirmation and the potential to break above the $2.1556 level for extended targets.