XRP LONG OR SHORT... 🔥🔥🔥
The current price of XRP is around $3.10, after a strong bounce from the psychological support of $3.00, confirmed by high volumes. The key support zone is located between $3.00 and $2.80, while the primary resistance is at $3.33 and subsequently at $3.65. A break above these levels, especially the breakout of $3.33, has favored new upward pushes, with rapid profit-taking bringing the price back to test lower supports.
Recommended Long Entry: between $3.05 and $3.10, on retracements to support.
Take Profit: area $3.33-$3.65 (first strong resistance, second all-time high).
Stop Loss: below $2.90 (level where increases have historically started).
Currently, the market sentiment is moderately positive, supported by strong institutional buying, resolution of the lawsuit with the SEC, and expectations for new ETFs. The momentum remains favorable for long positions at these prices. Short only on clear breaks below $2.90, but the presence of strong buyers and volumes suggest avoiding shorts until the sentiment changes.
Main Supports: $3.00, $2.80, $2.70
Main Resistances: $3.33, $3.65, $4.00
The medium-term trend remains bullish. A long trade is preferable, aiming for the continuation of the trend.
I advise you never to enter a position with all the capital you want to invest so that you can better manage the position in case of sudden retracements.
Always operate with low leverage and always set a stop loss.
