$XRP

Latest update on XRP (Ripple):

๐Ÿ“‰ Price & Volatility Snapshot

Trading around $2.90, after a dip from $3.02 intraday highs and a low near $2.82.

Seven-day implied volatility hit ~96%, signaling a potential ยฑ13% swing amid โ€œCrypto Weekโ€ in Congress .

๐Ÿš€ Key Drivers

1. Institutional Re-entry & Profit Realization

Saw an 8% drop from $3.02 to $2.78, with late-session recoveryโ€”likely from institutional re-balancing ahead of the ProShares XRP Futures ETF launch .

Whale accumulation remains strong; weekly inflows and onโ€‘chain volume spiked during the rise above $2.84 .

2. Bullish Technicals & Forecasts

Analyst Peter Brandt highlights a complex bullish setup, hinting at a possible 60% rally toward $4.47 .

Breakout past the descending triangle (~$2.84) supports a push toward $3.40 .

3. Current Resistance & Support Levels

Resistance: $2.95โ€“$3.03 (fib zone; intraday high) .

Support: Strong near $2.83, with a deeper level around $2.65โ€“$2.70 .

๐ŸŽฏ Trade Outlook & Strategy

Quick Snapshot:

๐Ÿ”ผ Bull case: Institutional bid + technical breakout fuels targets at $3.40, potentially $4.47.

โš ๏ธ Tail risk: Elevated volatility (~96%) suggests high-likelihood price swings.

Trade Zones:

Buy the Dip: $2.83โ€“$2.85 with stop at $2.75โ€“$2.80.

Breakout Entry: Above $3.03โ€“$3.05, targeting $3.40; use $2.95 stop.

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