Enter and make a three-day trade with $XRP
To determine a strong trading strategy for XRP over the next three days, based on the current technical analysis:
Key levels:
Key support: $2.23. If this level is broken, larger downside corrections may occur.
Key resistance: $2.94 with psychological resistance at $3.00. Breaking these levels may push the price towards the higher target at $3.55, the previous high of 2017.
Technical indicators:
1. Relative Strength Index (RSI): At 62, indicates strong buying momentum without entering the overbought zone.
2. Moving Averages:
MA50: At $2.41, indicates the continuation of the uptrend.
MA200: At $2.28, confirms the long-term uptrend.
3. MACD: Positive, indicating continued bullish momentum.
4. Volume: XRP trading volume in the last 24 hours exceeded $23 billion, showing strong interest in the market.
Recommendations:
Short-term long position (3 days):
Entry: $2.55-$2.60.
First target: $2.94.
Second target (in case of breakout): $3.10.
Stop loss: Below $2.50.
Risks and warnings:
Volatility is high after a strong 483% bullish wave in recent weeks.