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๐จ XRP/USDT 4H Technical Outlook โ Traderโs Eye View ๐จ
Currently, XRP is trading around 2.82 after a small retracement of -1.32% on the 4H timeframe. The chart structure is giving us some interesting signals that every trader should keep an eye on.
๐ Technical Breakdown:
Price is consolidating inside a descending channel, showing repeated rejection from the upper resistance line but also protecting the lower support zone.
We can clearly see two zones marked:
๐ต Upper Resistance Zone โ Around the 3.00 โ 3.20 range, where sellers have been strong in the past.
๐ต Lower Zone Support โ Close to 2.70 โ 2.75, acting as a key demand area.
The price has recently touched the lower side of the channel and is showing early signs of a possible bounce. If momentum builds, we may see a push towards the upper resistance zone again.
๐ Traderโs Eye Catching Observation:
The falling channel pattern often signals a potential breakout if buyers regain strength. A confirmed breakout above the descending channel could trigger bullish momentum, targeting the upper resistance zone (3.00+).
โ ๏ธ However, if the support breaks below the lower zone, XRP could see further correction, so risk management is crucial here.
โ Trading Tip: Always wait for confirmation candles before entering a trade. The safest entries come after retests of support/resistance levels. Donโt chase the marketโlet the setup come to you.
๐ก If you liked this analysis and want more traderโs-eye technical breakdowns, make sure to LIKE, SHARE & FOLLOW this channel. Your support motivates us to bring you sharper insights every day.
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Best of luck ๐ค ๐ ๐ค
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