XRP SETUP
Current Price: $2.3955
Recent High: $2.5030
Recent Low: $2.3113
A descending channel is evident, indicating a short-term
bearish trend with multiple rejections at the channel resistance.
Bullish Scenario
If the breakout sustains above $2.40, potential upside targets
are
:$2.44 (minor resistance)
$2.50 (key structural resistance)
Bearish Scenario
If the price fails to sustain above $2.40 and falls back within the descending channel, a retest of support near $2.35 and $2.31
(the recent low) is likely.
Trading Strategy Suggestions
Breakout Long Strategy
Entry: Above $2.40
Stop Loss: Below $2.38
Targets: $2.44, $2.50
Short Strategy (Channel Rejection)
Entry: Near $2.44 if the price gets rejected
Stop Loss: Above $2.46
Targets: $2.35, $2.31
#XRPPredictions PREDICTION