#ThanksgivingBTCMoves
XRP/USDT is showing strong bullish momentum as of November 29, 2024. The pair has risen significantly, currently trading around $1.50 to $1.60, with a weekly surge of approximately 36% and a notable 9% increase in the last 24 hours. Analysts attribute this performance to decoupling from Bitcoin, whale wallet accumulation, and positive regulatory developments for Ripple【8†source】【9†source】.
Technical Indicators:
Moving Averages: The overall sentiment for XRP's moving averages indicates a "strong buy," suggesting robust upward momentum.
Momentum Oscillators: Oscillators support the buying trend, with no signs of overbought conditions yet, which indicates room for further growth【9†source】.
Resistance and Targets: XRP is approaching key resistance levels near $1.65 and $2.00. Breaking these could trigger additional rallies【9†source】【8†source】.
Strategy:
Entry: Consider entering on pullbacks near $1.50 if confirmed by supportive candlestick patterns.
Take Profit: Set targets around $1.65 and $2.00.
Stop Loss: Use a stop loss around $1.40 to manage downside risk.
Duration: This rally may sustain in the short term, especially with positive macro and regulatory catalysts.
Contingency Planning:
Plan A: If XRP maintains momentum, scale in with small position increments as it approaches $2.00.
Plan B: If XRP retraces below $1.40, reassess for re-entry based on market conditions.
Plan C: Monitor broader market trends, especially Bitcoin, for indirect impacts on XRP's price【8†source】【9†source】.
Keep monitoring news around the Ripple-SEC case and whale wallet activities, as they are likely to influence price direction. #AIAndGameFiBoom #BitwiseFiles10ETFs $XRP