Strong wound on XRP/USDT as it approaches previous resistance
!XRP/USDT – Analysis on the one-hour frame (1h) ⏱️
Current price: $2.3150 (+1.02%)
Technical analysis:
The price is steadily rising above the three moving averages:
EMA7: $2.2988
EMA25: $2.2866
EMA99: $2.2640
>> The price has returned to test the recent peak at $2.3203, which could form a new launch base if broken steadily.
>> Relative Strength Index (RSI 6) = 77.6, indicating entry into the overbought zone, requiring confirmation of strong candles or waiting for a slight correction before entering.
Trade settings:
✅ XRP/USDT (Buy) LONG
🔰 Entry price upon breakout: $2.3220
🎯 Targets:
$2.3400
$2.3600
$2.3850
$2.4100
🛑 Stop loss: $2.2770
📌 Trader's advice:
A breakout of resistance at $2.3220 with high volume may trigger a new upward wave, but due to overbought conditions, it is preferable to split the entry and update the stop loss to the entry point after achieving the first target.
✅ XRP/USDT (Sell) SHORT
🔰 Entry price upon breakdown: $2.2770
🎯 Targets:
$2.2550
$2.2300
$2.2050
$2.1800
🛑 Stop loss: $2.3230
📌 Trader's advice:
If the price fails to break resistance and drops below $2.2770 with a confirmation candle, this breakdown can be exploited as a short-term downward opportunity, with monitoring of RSI movement and EMA lines to determine the continuation of the trend.
Trader's advice:
Do not enter the trade before confirming the breakout or breakdown with a full candle and strong trading volume. Do not risk in overbought areas without a clear exit plan.