Xuxu Baby's Analysis of XRP Morning Market on August 9

1. Trend Judgment

XRP is currently in a state of consolidation, with a stalemate between bullish and bearish forces. From recent trends, upward momentum has weakened, and market sentiment is rather cautious, but the overall upward trend has not been completely broken. In terms of technical indicators, the daily MACD red bar is shortening, showing a decline in bullish strength; the KDJ indicator is hovering around 50, with the direction yet to be clarified.

2. Support Levels

- First Support Level: $3.05. This price level is the low point of the recent pullback, forming a certain support base. If the price falls back to this level, bulls may take counteraction.

- Second Support Level: $2.98. This level corresponds to the hourly moving average support and is a key point that has been tested multiple times previously. If $3.05 is broken, this will become an important defense line. Once it effectively breaks below $2.98, strong support lies around $2.80.

3. Resistance Levels

- First Resistance Level: $3.14. This is the high point of the previous rebound, with a large number of trapped positions concentrated here, forming strong resistance. If $3.14 can be broken, the next key resistance area is around $3.34.

- Second Resistance Level: $3.34. This price level is an important technical resistance level and a key node of previous price fluctuations, making it difficult to break through.

4. Strategy Suggestions

- Long Strategy: If the price pulls back to around $3.05 and finds support, a light long position can be taken, with a stop loss set at $3.02 and a target looking towards $3.14. If it breaks $3.14, one can appropriately increase the position, aiming for $3.34.

- Short Strategy: If the price rebounds to around $3.14 and meets resistance, a light short position can be taken, with a stop loss set at $3.17 and a target looking towards $3.08. If it breaks below $3.05, one can pursue a short position, aiming for $2.98.

The cryptocurrency market is influenced by various factors such as news and market trends, presenting high risks. It is essential to manage risks properly during operations and strictly control positions and stop losses. The above analysis is for reference only and does not constitute investment advice. #XRP #特朗普加密新政 #美联储比特币储备 #特朗普允许401(k)投资加密货币 #特朗普允许401(k)投资加密货币