$XRP XRP/USDT: Analysis and Strategy for the Next 12 Hours
Chart Analysis:
1. Main Trend:
Timeframe: 4-hour (H4)
Current Trend: XRP is in a consolidation phase near the $1.0957 level after a significant rally.
Moving Averages: The MAs confirm a bullish trend but are flattening, indicating a potential minor correction or sideways movement.
2. RSI and Stochastic RSI Indicators:
RSI: Overbought zone, signaling weakening buying pressure.
Stochastic RSI: Appears to be peaking and starting to decline, suggesting potential for a correction.
3. Volume:
Declining buying volume, indicating reduced buyer interest.
4. Order Book:
Selling pressure is visible around $1.10, with numerous sell orders.
Significant buy orders are observed in the $1.085–$1.09 range, which could act as support.
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Entry and Stop Loss Plan:
Entry Buy:
Conservative Entry: $1.085 (near the closest lower support).
Aggressive Entry: $1.09 (near current support if bullish reversal signals appear).
Stop Loss (SL):
SL: $1.075 (below the main support).
Take Profit Targets (TP):
TP1: $1.10 (nearest psychological resistance).
TP2: $1.115 (next resistance if bullish momentum continues).
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Conclusion:
In the next 12 hours, the price is expected to range between $1.085 and $1.10, with a breakout possible if significant buying volume emerges. Monitor indicators and volume closely to confirm the trend direction.
