Based on the monthly chart, the March movement of XRP/USDT, due to an important news event, shows mixed characteristics, which spent all of February falling, and rose in a few minutes with the news:
Technical Analysis
1. Short-Term Trend
- The current price (2.8161) is significantly above the 7 (2.0391) and 25 period EMAs (1.1717), indicating **strong upward momentum** in the short term.
- The increase of +30.12% reinforces this trend, especially if accompanied by high volume (1.90 billion USDT in 24h).
2. RSI and Oversold/Overbought:
- The RSI(6) at 72.12 and RSI(12) at **71.46 suggest that the asset is **close to the overbought zone** (above 70). This may indicate a **temporary correction** if the momentum does not sustain.
3. Volatility and Support/Resistance
- The 24h range (2.1601 to 2.9990) shows high volatility. If the price breaks the recent high (2.9990), it may seek new levels. Otherwise, a retest of support at 2.16-2.26 is possible.
4. Volume and Trend Confirmation
- The high volume (1.90 billion USDT) validates the price movement, but it is crucial to monitor whether this activity persists in March. Decreasing volume at new highs would be a warning sign.
Outlook for March
- Bullish Scenario - If the price maintains support above **2.81** (current price) and breaks **3.00**, the uptrend may continue, especially with RSI remaining below 80 (avoiding extreme overbought conditions).
- Correction Scenario: If the RSI(6) exceeds 75 and volume decreases, a correction to **~2.26-2.50** is likely, seeking to test intermediate supports.
The March movement is optimistic in the short term due to the news validating President Trump's support, but with correction risks due to the high RSI. Sustaining volume and the ability to overcome resistances (e.g., 3.00) will be decisive. Traders should be alert to signs of exhaustion.
*Note: This analysis considered macroeconomic events such as the specific news of XRP impacting the market during the period.* 🚀📉