XRP/USDT — Short-Term Profit Booking Setup
Current Price: $3.04
Entry Zone: $2.95 – $3.05
Take Profit Targets (TP):
TP1: $3.15
TP2: $3.25
TP3: $3.40+
Stop-Loss: $2.85
Why This Setup is Poised for Short-Term Gains
Technical Reversal Confirmed: After a period of consolidation, XRP has shown a clear break to the upside and is holding above the key $3.00 level. The price action indicates a strong shift in market sentiment from bearish to bullish on short-term charts, with support being confirmed in the $2.95-$3.05 range.
Decisive Legal Resolution: The recent settlement of the long-standing legal battle between Ripple and the SEC has removed a major headwind for XRP. This landmark victory has re-ignited institutional and retail interest, and is a significant catalyst for a potential rally.
Bullish Whale Activity: While there was some whale selling a few days ago, on-chain data now shows that retail wallets are accumulating and trading volume is sustained. This suggests that the sell-off was a profit-booking event rather than a sign of a bearish reversal, and that the underlying demand remains strong.
Favorable Risk-Reward Profile: The proposed trade offers a compelling risk-reward ratio, with the initial target (TP1) providing a solid gain relative to the potential loss. The targets are aligned with significant psychological and technical resistance levels, while the stop-loss is placed below a key support area to protect capital.