$XRP /USDT – Potential Rebound from Support
Current Price: $2.9956
24h Range: Low $2.9404 – High $3.1472
24h Volume: 149.56M XRP
Trade Setup (Long):
• Entry: Above $3.0000 (Breakout confirmation)
• Target 1: $3.0200
• Target 2: $3.0500
• Stop Loss: $2.9500
Analysis:
XRP has experienced a significant downturn, but it appears to be finding support around the $2.9404 level. The price has started to show signs of a potential reversal, with bulls attempting to push back above the psychological $3.0000 mark. The trading volume of 149.56M XRP indicates a high level of market activity.
A sustained move above $3.0000 would be a key signal for a potential short-term bullish reversal. If this occurs, XRP could rally towards the first resistance at $3.0200 and potentially to $3.0500. Conversely, a failure to break and hold above the $3.0000 level, followed by a drop below the $2.9500 support, could lead to a continuation of the downtrend. The current price action suggests that a bounce is possible, but traders should wait for a confirmed break above resistance to enter a long position.