🚨$XRP /USDT Technical Analysis🚨
📊The $XRP /USDT pair is currently trading at $1.0961, down 3.41% from its 24-hour high of $1.1758. The 24-hour volume is $671.51 million for XRP and $751.29 million for USDT.
📈Long Entry: $1.0900
📉Short Entry: $1.1000
🛑Stop Loss: $1.0700 (for longs), $1.1100 (for shorts)
💹Analysis:
The chart shows a bearish trend with a recent pullback from the 24-hour high. The 5-minute chart indicates potential support at $1.0900, making it a good entry point for a long position. However, the overall bearish sentiment suggests a potential downside to the $1.0700 level. Therefore, a stop loss at $1.0700 is recommended for longs.
On the other hand, a short position could be considered at the $1.1000 level, with a stop loss at $1.1100. The resistance level at $1.1100 might act as a barrier for further upside movement.
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