📊 Technical Analysis – XRP/USDT (4H)$XRP
🟩 Trend Analysis
The market was in a downtrend initially, then sharply reversed into a strong bullish impulse, followed by a retracement and now showing signs of a potential bullish continuation.
Recent candles show higher lows and higher highs forming, which signals a shift to a short-term uptrend.
🔍 Support & Resistance
Immediate Resistance: $2.50 – a strong supply zone tested during the previous rally.
Immediate Support: $2.30 – recent bounce area.
Major Support: $2.10 – key level that held during prior downtrend.
📈 Candlestick & Price Action
The current price is $2.4267, trading near the local range high.
Recent candles are bullish with small wicks, indicating buyer strength.
Volume is rising on green candles, which confirms that the bullish move has strength.
📉 Volume Analysis
Noticeable volume spike during the last rally (early May) and a decline during the retracement.
Current volume is again increasing with price = bullish sign.
✅ Intraday Trading Signal
⚙️ Strategy: Momentum Breakout + Pullback Entry
Bullish Scenario
Entry (Buy): On a confirmed breakout above $2.45
Target 1: $2.50
Target 2: $2.58
Stop Loss: Below $2.38 (recent local low)
Pullback Entry (if price dips first)
Buy zone: $2.36 – $2.38 (pullback to demand)
Same targets: $2.50 / $2.58
Tight SL: Below $2.34
Bearish Scenario (only if breakdown)
Sell below: $2.30 with high volume
Target: $2.20
Stop loss: Above $2.34
📌 Summary
Bias Signal Type Entry Targets Stop Loss
Bullish Breakout Buy > $2.45 $2.50 → $2.58 < $2.38
Bullish Pullback Buy $2.36 – $2.38 $2.50 → $2.58 < $2.34
Bearish Breakdown Sell < $2.30 $2.20 > $2.34
⚠️ Risk Note:
Use proper position sizing (1–2% risk per trade).
Avoid entering during high volatility news (check economic calendar).
This analysis is intraday only—price action may change fast.
DISCLAIMER ⚠️
This is just my analysis.Always #DYOR* .