🎯LONG SETUP – $XRP
{future}(XRPUSDT)
Entry Zone: 1.9200 - 1.8880
Stop Loss: 1.7650
Take Profit Targets:
∙ TP1: 2.0500
∙ TP2: 2.1800
∙ TP3: 2.3500
Bullish Justification
XRP has just completed a deep correction from the peak of 2.5799 down to the bottom of 1.7703
and is building a solid price base at the level of 1.9200. The price structure indicates a
falling wedge pattern is being broken, with the price bouncing strongly from support
and testing the short-term resistance level, signaling a trend reversal is
taking place.
Volume spiked with 113.4M XRP traded, while the 5-day moving average volume
(442.8M) is lower than the 10-day moving average (457.4M) but is showing signs of improvement. The 7-day moving average at 1.8979 is currently below the price and will become a strong dynamic support,
while the 25-day moving average at 2.0219 is the first resistance target that needs to be broken.
This setup has a high probability because the price is in a strong demand area
1.8900-1.9300 with buy orders accounting for 51.80%, indicating buyers are
a little dominant. If it breaks the 25-day moving average at 2.0219 and the 99-day moving average at 2.4104, XRP could strongly rally to the range of 2.3000-2.4000 due to thick liquidity pools at higher
price levels and positive momentum from today's performance increasing
1.01%.