Family, today Brother Hao will have a good chat with everyone about the XRP market. Recently, the market dynamics have changed rapidly, and I, Brother Hao, have been closely monitoring on-chain data to thoroughly understand the situation with XRP.
Recently, XRP broke its historical high, reaching $3.66, which is quite an impressive achievement! However, the market is like this; with rises, there are corrections, and now XRP is showing signs of a short-term pullback. But don’t panic, everyone. After carefully analyzing the long-term fundamentals and technical aspects, I still have a very optimistic outlook on its future rise.
Now let's take a look at the Fibonacci extension targets. After XRP broke the 2018 high of $3.84, the next resistance level is at $3.82, which is the 23.6% extension level. The mid-term target looks towards $4.50, which is the 61.8% extension level. From this analysis, it seems that XRP still has plenty of room to rise.
Next, let’s talk about operational suggestions. Currently, XRP's price is around $3.50, and at this time, definitely do not chase the high, otherwise, it’s easy to get stuck. Everyone can build positions in batches at the two support zones of $3.38 and $3.00, just like stocking up in batches to reduce risk. If the price breaks through $3.66, then you can consider increasing your position to seize the opportunity to earn more. Also, make sure to set a stop loss below $2.95; this is to provide insurance for your investment and guard against systemic risks.
Brother Hao also has his own operational suggestions. Near $3.4600, you can short, initially looking down to $3.3950, and then further down to $3.3100. Moreover, based on Brother Hao's analysis, XRP may directly pull back to $3.1260 in the next couple of days. Of course, the market is unpredictable, so everyone should flexibly adjust their operational strategies based on the actual situation. #Xrp🔥🔥