#xrp $XRP

Current Price: $2.4109

24H Low: $2.3471 (Just tapped recently, showing potential support)

24H High: $2.5344 (Major resistance area)

Price Trend: Strong downtrend with short-term bounce

Candlestick Pattern

The latest candle is a small-bodied green candle after a long red candle, possibly forming a bullish short-term reversal (Doji or Pin Bar).

This bounce occurred from local support at $2.3471, which adds significance to this level.

Moving Averages (Bearish Bias)

MA(7): 2.4375 (Above current price – acting as resistance)

MA(25): 2.5103 (Stronger resistance)

MA(99): 2.3037 (Strong support if price dips)

Price is below both MA(7) and MA(25) — this is still a bearish trend, unless broken.

RSI + Stoch RSI (Oversold Zone)

RSI(6): 30.8 (just above oversold zone)

Stochastic RSI:

STOCHRSI: 8.71

MASTOCHRSI: 4.79

Extremely oversold – this signals potential short-term bounce or reversal, especially when aligned with support level.

Trade Setup Suggestion (Short-Term Scalping/Bounce)

Entry:

Buy Entry (Long): $2.39 – $2.41 (wait for slight retest or small dip for better RR)

Stop Loss:

Below recent wick low → $2.33

(to protect from fake-out breakdown)

Targets:

TP1: $2.437 (near MA(7), short-term resistance)

TP2: $2.47

TP3 (Aggressive): $2.50–2.51 (MA25)

Risk to Reward (RRR):

~1:2 or 1:3 depending on target level chosen.

Risk Factors

If price closes below $2.34 on 4H candle, downtrend will likely continue to $2.30 or lower.

MA lines are sloping downward → trend is still bearish overall.

This is a counter-trend bounce play, not a long-term reversal (yet).

Final Verdict

Short-term BUY (scalp) setup, aiming to catch a bounce from oversold zone and support level.

Not ideal for swing/long-term buy unless price reclaims $2.51+ with volume and strong candles.