๐ Looks like $XRP is heating up again with a classic rebound play! Here's a quick technical breakdown of your trade idea and what to watch next:
๐ง Trade Logic Recap:
Key Support Rebound: The bounce from $2.0591 suggests buyers are defending that level aggressively.
Volume Confirmation: Strong volume on the bounce = likely genuine interest, not just a dead cat bounce.
Entry Zone: $2.12โ$2.14 sits right above the recovery point, offering a balanced risk/reward entry.
๐ Trade Setup Recap:
Component Value
Entry $2.12โ$2.14
TP1 $2.18
TP2 $2.22
Stop-Loss $2.07
๐ What to Watch:
RSI (1H/4H): Look for RSI holding above 50 or pushing toward overbought (but not diverging negatively).
1H Candle Close: A bullish engulfing or strong-bodied green candle above $2.14 would signal strength.
Volume Continuation: Sustained buying volume into $2.18 could foreshadow the breakout youโre targeting.
โ ๏ธ Risk Notes:
Watch for a fakeout rejection at $2.18 โ it's a resistance area and could cause a temporary pullback.
If price struggles to hold above $2.12, consider scaling out or moving SL tighter to protect capital. #TrumpVsMusk $XRP