XRP/USDT: Local Correction or Springboard to $3?Hi there! 👋
Let’s dive into the XRP/USDT chart, which has been drawing attention with its strong bullish momentum but is now showing the first signs of a possible correction. Let’s break it down! 🧐
🖼 Overall Picture
The chart shows a clear uptrend, which has pushed XRP to a local high of $2.70. However, the market looks slightly overheated, and a correction to key support levels seems likely.
Globally, XRP remains in a bullish trend, supported by positive sentiment and broader crypto market growth.
📈 Technical Analysis (Using Midas Up/Down)
Key Support Levels:
1️⃣ $2.20–2.30 : Local support, a potential zone for entries during a pullback.
2️⃣ $1.80–2.00 : Major support zone, aligned with high volume levels (Volume Profile) and a strong trendline.
Resistance:
$2.60–2.70 : A local profit-taking zone. Price has already rejected this level twice.
$3.00 : The next major target if the current highs are broken.
🛠 What Indicators Say:
RSI (4H) : Still in overbought territory, signaling potential for a correction.
MACD (4H) : Shows slowing momentum as the histogram shrinks, indicating the market is preparing for a pullback.
MACD (1W) : Remains firmly bullish on the weekly timeframe, confirming the strength of the long-term trend.
🗺 Scenarios
1️⃣ Bullish Scenario:
Price holds the $2.20–2.30 support zone and returns to test $2.70.
A breakout above $2.70 opens the path to $3.00 and potentially $3.50.
2️⃣ Bearish Scenario:
Price breaks below $2.20 and tests the $1.80–2.00 support zone.
If this level holds, it presents an excellent low-risk entry point for buyers.
🎯 Trading Strategy
Short-Term (Swing Trading):
Entries:
1️⃣ Around $2.20–2.30 on a local pullback.
2️⃣ Safer entry: $1.80–2.00.
Targets:
1️⃣ $2.60–2.70 — for partial profit-taking.
2️⃣ $3.00 — main target.
Stop-Loss:
Aggressive: Below $2.10.
Conservative: Below $1.80.
Medium-Term:
Buy in the $1.80–2.00 range with the aim to hold until $3.00+.
⚠️ Risks
Breaking below $1.80 could accelerate a drop to $1.50.
The overall market is volatile, so keep an eye on broader trends and adjust positions accordingly.
🚀 Conclusion
XRP continues to delight bulls, but a local correction is likely. The $2.20–2.30 and $1.80–2.00 levels look like great zones for re-entry or scaling in. If the price breaks $2.70, the target of $3.00 becomes realistic. Stay sharp! 💪
💬 What do you think about this scenario? Got any ideas or feedback? Drop your thoughts in the comments, and let’s discuss! 👇
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