Update #xrp
Based on the chart, here’s a potential trade setup for XRP/USDT:
Entry Point:
Buy Entry: Around $2.16 - $2.17, as it is near a support zone after a recent drop.
Stop-Loss:
Below $1.95, which is the 24-hour low.
A tighter stop could be $2.00 if you want less risk.
Take Profit Targets:
First Target: $2.35 - $2.40 (recent resistance area)
Second Target: $2.60 - $2.70 (stronger resistance from previous highs)
Final Target: $3.00+ (if bullish momentum continues)
Risk Management:
Risk-Reward Ratio: Aim for at least 1:2 or 1:3.
Position Size: Adjust based on your risk tolerance.