$XRP Technical Analysis – High Potential Setup
XRP is currently retesting a key support level before the critical resistance at $0.5668. Given the current market structure, there is a high probability of a bullish breakout, targeting the following levels:
Entry & Risk Management:
Entry Zone: Current price near $0.5668 (confirmed retest).
Stop-Loss (SL): $0.4558 (strategically placed below key liquidity zones, with an extremely low probability of being hit).
Risk-to-Reward Ratio: Favorable, with minimal downside risk.
Target Levels (TP):
1. $1.108 – Initial target aligning with Fibonacci extension and prior resistance.
2. $1.7922 – Strong breakout zone, backed by volume accumulation.
3. $2.606 – Major macro resistance level, achievable if momentum sustains.
Trade Probability & Confluence Factors:
Bullish structure confirmation after retest.
Increased volume & institutional accumulation signals.
Fibonacci confluence & historical resistance alignment.
Momentum indicators favoring an upward push.
⚠️ Disclaimer: Always DYOR (Do Your Own Research) and manage risk accordingly. Market conditions can shift rapidly, so adapt your strategy based on evolving price action.
