📌 Analysis + Deal $XRP #xrp
Bullish breakout for XRP/USDT after breaking the main resistance
!XRP/USDT – Analysis on the hourly timeframe (1H) ⏱️💧
Current price: $2.2851
📌Technical analysis in brief:
The price has consolidated at support around $2.28 after rebounding from levels of $2.26, with a slight decrease in selling volume.
It is trading above the 25-exponential moving average (EMA25) at ~$2.29 and below the EMA50 at ~$2.27, indicating an initial bullish momentum that needs confirmation.
The relative strength index (RSI) is at ~53, reflecting a relative balance and an opportunity for a bullish rebound without being overbought.
Trade settings:
✅ XRP/USDT (Buy) LONG
🔰 Entry price upon breakout: $2.30
🎯 Targets:
$2.35
$2.40
$2.45
$2.50
🛑 Stop loss: $2.26
📌 Trader's advice:
Wait for the closure of the 1H candle above $2.30 with an increase in trading volume to confirm the breakout. After reaching the first target, move the stop loss to the entry price ($2.30) to protect capital, then leave the position to chase higher targets.
✅ XRP/USDT (Sell) SHORT
🔰 Entry price upon breakdown: $2.27
🎯 Targets:
$2.22
$2.18
$2.14
$2.10
🛑 Stop loss: $2.30
📌 Trader's advice:
You can enter a sell position upon a clear breakdown of the $2.27 level with a closure of the 1H candle below it and high trading volume. Place a stop above the broken resistance ($2.30), and gradually adjust the stop loss as each target is reached to protect profits.
Trader's advice:
“Always remember risk management and do not trade with an amount you cannot afford to lose.”