๐Ÿ“Š Analysis of XRP/USDT: Up or Down?

๐Ÿ”น Current Price: $2.3585 (+1.77%)

๐Ÿ”น Key Support: $2.28 (20-day EMA), $1.90 (61.8% Fibonacci Level)

๐Ÿ”น Key Resistance: $2.73, $2.91

๐Ÿ“ˆ Development Scenarios:

Decline: If the price drops below $2.28 (EMA), a sharp decline to the triangle support is likely. A breakout below this line will open the way to $1.90, and with increased bearish pressure, a drop to $1.62 is possible. ๐Ÿ“‰

Rise: In the event of a breakout above the resistance at $2.3986, XRP could gain bullish momentum and head towards $2.73. Holding this level may lead to an increase to $2.91. ๐Ÿš€

๐Ÿ”ฎ Market Analysis:

XRP is currently in a triangle and is balancing between support and resistance. The market is holding its breath, waiting for a decisive move.

๐Ÿ’ก Recommendations:

1. Watch the $2.28 level โ€” this is a key area, and a breakout here could trigger a decline.

2. Enter long after a breakout at $2.3986 with targets of $2.73 and $2.91.

3. Set a stop-loss at $2.28 to minimize risks in case of a reversal.

4. For the bearish scenario, it is advisable to consider shorting if the price breaks below $2.28.

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