$XRP

XRPUSDT

Perp

1.914

+4.48%

XRP/USDT Trading Strategy (Technical Analysis)

🔍 Trend Analysis

Bearish trend: Price is trading below 50 EMA & 200 EMA.

SuperTrend is red, confirming a downtrend.

Bollinger Bands expanding, signaling increased volatility.

📈 Support & Resistance

Support: $2.15 (recent low).

Resistance: $2.39 - $2.40 (50 EMA & past consolidation).

📊 Candlestick & Volume Analysis

Strong bearish candles dominate, confirming selling pressure.

High bearish volume, no bullish spike for reversal yet.

📉 Oscillators (Momentum Indicators)

RSI: 23.76 (Oversold) – Possible short-term bounce.

Stochastic RSI: 10.00 (Oversold) – Watch for an upward crossover.

MACD: Bearish histogram & downward MACD line → Downtrend continuation likely.

🎯 Trading Plan

📉 SHORT Position (Bearish Bias)

Entry: $2.22 - $2.25

Stop Loss: Above $2.40

Take Profit:

First target: $2.15

Second target: $2.00

🔹 Confirmation for Short:

✔ Price rejection near $2.30

✔ Bearish RSI & MACD alignment

✔ High volume on red candles

📈 LONG Position (Reversal Play - Only if Support Holds)

Entry: $2.15 - $2.18

Stop Loss: Below $2.10

Take Profit:

First target: $2.30

Second target: $2.40

🔹 Confirmation for Long:

✔ Bullish divergence on RSI or MACD

✔ Strong bounce from $2.15 support with high volume

✔ Bullish candlestick reversal pattern (e.g., hammer, engulfing)

🔎 Summary

Bearish trend remains strong – short setups are preferred.

Oversold RSI & Stochastic RSI suggest a possible bounce.

Watch for trend reversal signals before going long.

Disclaimer: This is for informational purposes only, not financial advice. Conduct your own research and trade responsibly. 🚀📊

#BSCTrendingCoins #BSCProjectSpotlight #BinanceLaunchpoolGUN #BinanceSquareTalks