Recent Trend: XRP had a very strong upward movement a few months ago, followed by a red candle (pullback), and now it seems to be making some kind of consolidation. This pattern may resemble a "bull flag" or "healthy pullback," typical of a continuation.
Alligator (moving average indicator): The lines are opening upwards, which in the long term suggests an active bullish trend.
Stochastic RSI:
The blue value (fast RSI) has started to decrease from the overbought zone (>80), but is still above 40, which suggests it still has strength.
We could see further pullback, but if the lines cross upwards again, it would be a good signal for continuation.
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2. Is it a good time to buy on spot?
Advantages of buying now:
You are buying after a -12% monthly correction.
There is interesting support near $1.80 and $1.46 (moving average levels and previous candle bodies).
The medium to long-term potential (6-12 months) remains bullish if the crypto market continues to rise.
Risks to consider:
There is still no confirmation of a clear rebound.
If it loses support at $1.80 with volume, it could drop to levels like $1.46 or even $1.18.
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3. Recommendation for entering on spot:
Suggested strategy (DCA – Buy in parts):
1. Buy a part now (for example, 30-40% of what you were planning to invest).
2. Wait for confirmation of a green candle next month or a bounce at the support zone to buy another 30%.
3. Leave the rest (30-40%) in case XRP falls further (zone $1.46 or $1.18).
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4. Possible bullish scenario:
If next month closes with a green candle above $2.00, it is likely that the price will seek to break the $3.00 – $3.50, key historical resistance zone.
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JUSTIFICATIONS 1. Bitcoin Halving (April 2024)
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What is the new contract $CLANKER ? What is the specific token issuance situation? I want to short but I'm not clear on the specifics 😂, a bit scared ah