Based on the current XRP/USDT analysis, the price is trading around $2.27 to $2.33, with significant volatility following a recent sharp rally. The market has seen XRP gain over 360% in the past month, but it has experienced a pullback in the last 24 hours  .
Using Smart Money Concepts (SMC) and ICT (Inner Circle Trader) principles, here are some considerations:
Key Levels to Watch
1. Potential Support Zones:
• $2.20: A recent high-volume area acting as potential short-term support.
• $1.90-$2.00: A stronger demand zone coinciding with previous consolidation.
2. Resistance Levels:
• $2.50-$2.55: Immediate resistance based on recent price action and moving averages.
• $2.90: A psychological level tested during the recent rally.
Entry Strategies
• Optimal Buy Zones:
• Wait for price retracements to the $2.00-$2.10 area, where liquidity might rest, as this aligns with SMC’s “discount” principle.
• Look for bullish order blocks near $2.00, confirmed by volume and reaction in lower time frames.
• Smart Money Confirmation:
• Use imbalance fills or breaker blocks from the recent rally (around $2.00-$2.10) as indicators for reversals.
• Watch for liquidity grabs below $2.20, signaling institutional accumulation.
Targets and Risk
• Upside Potential:
• Near-term targets: $2.50-$2.70, based on Fibonacci extensions and recent highs.
• Long-term: If bullish momentum persists, the price could retest $3.00+.
• Risk Management:
• Use a stop loss below $1.85, as breaking this would invalidate bullish setups.
Observations
Current market sentiment remains positive despite the pullback. Large trade volumes suggest institutional activity, which could influence price direction. However, given the recent surge, a deeper retracement is possible before the next upward leg.
