$XRP is showing promising signs after breaking out of a bullish flag pattern on the 4-hour chart.

This pattern often signals the continuation of an uptrend.

Here’s a detailed analysis.

Current Scenario.

Breakout & Retest. $XRP broke the descending resistance of the flag pattern and is now retesting it as support.

Key Support Levels. Holding above the MA 50 (moving average) is crucial for maintaining the bullish momentum.

Volume. Increasing trading volume on the breakout adds further strength to this setup.

Buy Zone.

Entry Range. $2.60 - $2.70

(This range is ideal for entering the trade as long as the price holds above the broken resistance and the MA 50.)

Targets.

Target 1. $2.87

Target 2. $3.20

Target 3. $3.60

Stop Loss.

Set SL at. $2.40

(Below the MA 50 and the breakout zone which invalidates the bullish setup.)

Next Steps & Things to Watch.

1. Confirm Support. Ensure XRP holds above the $2.60 level and the MA 50.

2. Volume. Look for increasing volume on the next bullish move to confirm momentum.

3. RSI. Watch the RSI indicator for signs of overbought conditions near targets.

Risk Reward Ratio.

Entry ($2.60) to Target 3 ($3.60) offers a 3.8x reward compared to the risk.

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