🧵$XRP : Does the golden point save XRP from falling?
XRP 8H – Rejected from resistance and correcting towards a critical demand zone
📉 Current price: $2.9514
📊 Daily change: -3.23%
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🔹 Key levels and technical structure
- Clear rejection from resistance at $3.15, leading to price decline towards the demand zone between $2.79 and $2.59.
- This area represents the golden point (0.5–0.618 Fibonacci) of the upward movement in July.
- The 0.786 level at $2.28 represents the last line of defense before completely invalidating the upward trend.
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🔹 Momentum check
- Stoch RSI indicator is still in the overbought area, indicating the possibility of a deeper correction before any bounce.
- Resetting momentum may coincide with a bounce from the demand zone, creating a new entry opportunity.
- Trading volume has started to decline, reflecting a state of anticipation among buyers.
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🔹 Trading scenarios
| Scenario | Description | Potential target |
|----------|-------------|----------------|
| ✅ Bounce from the golden point | Recover $3.15 | $3.30–$3.50 |
| ⚠️ Break of the demand zone | Drop towards 0.786 | $2.28–$2.35 |
| 🔄 Consolidation | Sideways movement | $2.60–$2.95 |
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🔹 Trading idea
- Open a long position from the $2.70 area with a stop loss below $2.55 = calculated risk.
- Confirmation of the trend occurs with a clear breakout above $3.15 with strong trading volume.
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📌 XRP is facing a crucial test: Will liquidity intervene at the golden point?
Follow #CryptoEmad for trading opportunities! 🚀
