Is $XRP preparing for a new launch or just a temporary rebound? An analysis reveals the closest scenario!
Technical Analysis – #XRP/USDT
Current Price: 2.2088 USDT
Change Percentage: +2.87%
Time Frame: Daily
Notes from the indicators:
The price rebounded from a support area of 2.07 and achieved a positive close.
RSI Indicator = 40.64, indicating partial recovery after selling pressure.
MACD is still in the negative zone but the downward momentum is slowing down.
The last candle shows optimism in the market but within a relatively sideways trend.
The Bollinger Bands are narrow, suggesting a price explosion is imminent.
Suitable Trading Strategy:
Long Strategy (Upward):
Potential Entry Point: Daily candle close above 2.23
First Target: 2.35
Second Target: 2.50
Stop Loss: Close below 2.07
Short Strategy (Downward):
If the price breaks 2.07 with a clear close.
First Target: 1.97
Stop Loss: Above 2.23
Analytical Opinion:
The market shows initial signs of recovery, but we still need to break resistance at 2.23 to confirm the rise. Caution is required while monitoring the volume and upcoming RSI movement.
Question for the audience:
Do you think XRP is at the beginning of a real upward wave? Or are we facing a rebound trap before further decline?
Share your opinion in the comments below👇