XRP short-term analysis: a breakout imminent?

XRP rebounded strongly after hitting a low of 1.7711 USDT and is currently above 2.80 USDT. The bullish sentiment in the market has improved and it is expected to challenge 3.00 USDT in the short term.

Technical Analysis

1. Moving average support and breakthrough

• MA(7) (2.5440 USDT): has been broken, strong in the short term.

• MA(25) (2.7556 USDT): It has just stabilized. If it can stabilize in this area, it is expected to continue to rise.

• MA(99) (2.2509 USDT): It quickly rebounded after falling below, indicating that the market still has strong carrying capacity.

2. Volume and Momentum

• The increase in volume indicates capital inflow and strong short-term buying.

• MACD just turned red, the momentum bar began to strengthen, and the short-term trend turned bullish.

3. Key points and strategies

• Upper pressure: 3.00 - 3.40 USDT. Once broken, a new round of rise may begin.

• Support below: 2.50 - 2.75 USDT. If it can hold, the short-term trend will still be bullish.

• Operation suggestion: Pay attention to the support strength of 2.75 - 2.80 USDT. If it is not broken, you can consider going long.

In the short term, XRP’s structure is relatively strong, and bulls are in control. If the market continues to move upward, 3.00 USDT is only a matter of time.

When the market hesitates, the chips have already changed hands; when it comes to confirmation, the price is no longer waiting for anyone. $XRP