Pattern: Demand Zone Rebound (Bullish Recovery Setup)
The chart shows XRP bouncing from a strong demand zone, signaling a potential short-term reversal after recent selling pressure. The price action suggests that buyers are gradually regaining control, with momentum shifting upward toward key resistance levels.
Key Observations
🔹 Demand Zone: Around $2.10 – $2.20, acting as strong accumulation support where buyers previously stepped in.
🔹 Immediate Resistance: Supply zone near $2.90 – $3.00, expected to be the next major barrier.
🔹 Targets:
🎯 Target 1: $2.52 — first resistance test after bounce.
🎯 Target 2: $2.72 — extension move toward supply zone.
🔹 Bull Bear Power (BBP): Currently improving from the negative region (-0.11), suggesting weakening bearish strength and a potential bullish transition.
🔹 Structure: Price forming higher lows after a deep retracement, indicating renewed accumulation and possible trend reversal setup.
Potential Move
If XRP sustains above $2.20, bullish momentum could drive a move toward the $2.50 – $2.70 range.
Failure to hold this demand zone, however, may trigger a retest toward $2.00 support.
Summary:
XRP is showing early signs of a bullish reversal from a major demand zone. Momentum indicators hint at a possible shift toward the upside, with targets near $2.52 and $2.72 if buyers maintain control.
#coinpediamarkets #XRP #Ripple #XRPUSDT #CryptoAnalysis #TechnicalAnalysis #CryptoTraders #CryptoMarket
The chart shows XRP bouncing from a strong demand zone, signaling a potential short-term reversal after recent selling pressure. The price action suggests that buyers are gradually regaining control, with momentum shifting upward toward key resistance levels.
Key Observations
🔹 Demand Zone: Around $2.10 – $2.20, acting as strong accumulation support where buyers previously stepped in.
🔹 Immediate Resistance: Supply zone near $2.90 – $3.00, expected to be the next major barrier.
🔹 Targets:
🎯 Target 1: $2.52 — first resistance test after bounce.
🎯 Target 2: $2.72 — extension move toward supply zone.
🔹 Bull Bear Power (BBP): Currently improving from the negative region (-0.11), suggesting weakening bearish strength and a potential bullish transition.
🔹 Structure: Price forming higher lows after a deep retracement, indicating renewed accumulation and possible trend reversal setup.
Potential Move
If XRP sustains above $2.20, bullish momentum could drive a move toward the $2.50 – $2.70 range.
Failure to hold this demand zone, however, may trigger a retest toward $2.00 support.
Summary:
XRP is showing early signs of a bullish reversal from a major demand zone. Momentum indicators hint at a possible shift toward the upside, with targets near $2.52 and $2.72 if buyers maintain control.
#coinpediamarkets #XRP #Ripple #XRPUSDT #CryptoAnalysis #TechnicalAnalysis #CryptoTraders #CryptoMarket
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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.