XRP/USDT: Local Correction or Springboard to $3?

3 dic

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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