New buying entry opportunity for XRP? 🔥🚀

Recently, XRP attempted to break through the $2.40 resistance level but couldn't maintain the momentum. The MACD indicator is showing signs of weakening, suggesting that the bears might be gaining the upper hand.

At the time of writing, XRP is trading at around $2.35, experiencing a slight dip of about 0.11% today.

For those considering a short position, entering between $2.37 and $2.38 could be strategic. Setting targets at $2.34, $2.31, and $2.28, with a stop loss at $2.40, might be prudent. Bearish divergence and declining trading volumes hint at potential further declines. As always, it's wise to manage risk carefully, especially in such a volatile market.

On the flip side, if XRP manages to break above the $2.40 resistance, it could pave the way for a rally towards $5 or even $6.60. However, if it fails to hold above the $1.95 support level, we might see it testing lower levels.

In the broader crypto landscape, XRP's recent performance has been mixed. While it reached an all-time high of $3.02 on January 15, 2025, it has since faced challenges, including market volatility and regulatory uncertainties.

As always, stay updated with the latest market trends and news to make informed decisions.

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