The 4-hour chart for XRP/USD indicates a market that has been under selling pressure since the sharp drop around July 23rd, where price broke down from the 3.40+ range. Since then, XRP has been struggling to reclaim higher levels, with the red trend indicator line (likely a moving average or trend-follow tool) acting as a persistent dynamic resistance.
After bottoming near the 3.05 zone on July 25th, the price moved into a sideways consolidation, repeatedly testing both the lower range (around 3.08) and upper range (around 3.20). This tight range suggests accumulation or distribution ahead of a bigger move.
Currently, the chart shows a potential long setup triggered around 3.1450, with a stop loss just below 3.0797 and a take profit target at 3.3314. This setup aims to capture a breakout from the consolidation zone toward the previous resistance area just below 3.35. The risk-to-reward ratio is favorable (close to 1:3), making it an attractive trade for short-term swing traders.
The target level aligns with the price area before the breakdown on July 23rd, where sellers previously gained control. Breaking through that level could signal a short-term trend reversal. However, the price still needs to clear the 3.20 resistance with a strong candle close to confirm bullish momentum.
Trade Setup
• Entry: 3.1450 (current level, inside consolidation support)
• Stop Loss: 3.0797 (below recent swing low)
• Take Profit: 3.3314 (prior resistance zone)
• Risk-to-Reward Ratio: ~1:2.94
• Trade Bias: Short-term long aiming for breakout from consolidation
After bottoming near the 3.05 zone on July 25th, the price moved into a sideways consolidation, repeatedly testing both the lower range (around 3.08) and upper range (around 3.20). This tight range suggests accumulation or distribution ahead of a bigger move.
Currently, the chart shows a potential long setup triggered around 3.1450, with a stop loss just below 3.0797 and a take profit target at 3.3314. This setup aims to capture a breakout from the consolidation zone toward the previous resistance area just below 3.35. The risk-to-reward ratio is favorable (close to 1:3), making it an attractive trade for short-term swing traders.
The target level aligns with the price area before the breakdown on July 23rd, where sellers previously gained control. Breaking through that level could signal a short-term trend reversal. However, the price still needs to clear the 3.20 resistance with a strong candle close to confirm bullish momentum.
Trade Setup
• Entry: 3.1450 (current level, inside consolidation support)
• Stop Loss: 3.0797 (below recent swing low)
• Take Profit: 3.3314 (prior resistance zone)
• Risk-to-Reward Ratio: ~1:2.94
• Trade Bias: Short-term long aiming for breakout from consolidation
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.