XRP/USDT Analysis: Which Way Will It Go?
The XRP/USDT chart is at a critical juncture, with price consolidating in a descending triangle while maintaining an overall bullish structure. This setup presents two interesting possibilities:
1️⃣ Bullish Breakout: If XRP breaks above the descending triangle's resistance line and clears the $3.30-$3.35 zone, it could trigger a sharp move upward toward $3.50 and beyond, continuing its bullish momentum.
2️⃣ Bearish Retest: Alternatively, a failure to hold the immediate support near $3.20 could push the price lower, with potential retests of $3.00 and $2.90. This might provide a strong bounce near the upward trendline (marked in blue).
Both scenarios depend heavily on volume and momentum. Traders must decide:
Will you wait for the breakout confirmation above $3.35 for a bullish entry?Or would you prefer a lower entry near $3.00 if the bearish scenario plays out?
Let us know in the comments how you’d trade this setup! 🚀📉
Disclaimer: This is not financial advice. Always conduct your own research.
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