๐ XRP Heating Up on the 4-Hour Chart โ Breakout or Fakeout? ๐
๐ Bullish Momentum Building
XRP is trading above its 20- and 50-day EMAs, a bullish signal.
But it's forming a rising wedge โ a pattern that often signals a possible pullback. โ ๏ธ
MACD is flattening, and volume is declining โ signs the rally might be losing steam. ๐
๐ Key Price Levels to Watch
Resistance at ~$2.35: A breakout here with strong volume could push XRP to $2.50 or higher. ๐
Support at ~$2.25 and $2.15โ$2.18: If price fails to break resistance, these are the key zones to watch for a bounce. ๐ก๏ธ
๐งญ Bigger Picture (Daily Chart)
XRP just printed two green candles in a row, showing sustained buying pressure. ๐
Breaking the $2.33โ$2.47 range could lead to a move toward $3.00. ๐ฏ
โ Conclusion: Opportunity Knocking?
XRP is flashing promising signs of a breakout in both the short and medium term. While caution is warranted due to the rising wedge and fading momentum, a strong breakout above $2.35 could ignite a new rallyโpotentially targeting the $3.00 range and beyond. ๐
For investors seeking exposure to a high-upside altcoin with strong technical positioning, XRP may be setting the stage for significant growth in the coming weeks. Buying on dips near support could offer attractive risk-reward opportunities. ๐ฐ๐ฅ