XRP ANALYSIS UPDATE🔥
XRP, currently at $3.26, shows positive technical signals for a short-term trade. After the recent breakout above the key resistance at $3.20, XRP has successfully tested this level, now support, confirming strength in the market. The next price target is around $3.47, with potential extension up to $3.75$ in case of a breakout.
A recommended trading strategy involves entering at $3.25 - $3.26, with a prudent stop loss advised around $3.15, just below the support at $3.20$ to limit losses. The take profit can be placed with the first more conservative at $3.47$ and the second more aggressive at $3.75, leveraging technical resistance levels and the possibility of a rally driven by increasing institutional volumes and favorable market conditions.
Indicators such as the RSI near 50 and the 50-day exponential moving average acting as support suggest a consolidation phase with the potential for a bullish breakout.
Please always trade with low leverage and always set a stop loss.
