🔴Technical Analysis for XRP 🌟📉📈
🍀Today, I am closely monitoring the movement of XRP, and I noticed a decline of approximately 5% before it touched the important support level at $3.20, then it experienced a quick rebound above $3.30. Currently, we are moving within the range of $3.20–$3.33, with clear resistance at $3.31–$3.33.
🔸️On the chart, I see the formation of a rising flag above $3.28, and this pattern is usually a signal for the continuation of positive movement if the current resistance is broken. However, on the other hand, the critical level at $3.65 still acts as a fundamental barrier; breaking it could open the way for stronger upward movement, while failing at it could bring us back to a corrective wave.
🔸️In terms of indicators, buy signals are strong on most medium and long-term time frames, but the intraday timeframe shows some caution, which means the market is still in a state of fluctuation. For me, I am currently watching two key points:
Breaking $3.33: Potential signal for a new upward wave.
Breaking $3.20: Could push the price down towards $2.77–$2.58.
🌟Summary of my view:
I still lean towards a positive direction in the medium and long term, but I am being cautious in the short term and avoiding haste before confirming breakouts. Risk management at this stage is essential for me.
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