XRP Technical Analysis
*General Trend*
$XRP 2.3801 +12.33%, reversing the upward trend since the beginning of 2024.
Daily Analysis
1. *Bullish Pattern*: Ascending triangle pattern indicating increasing purchasing power.
2. *Moving Averages*: The price is moving above the MA 50 and MA 200, indicating strong bullish support.
3. *Technical Indicators*: RSI at 62, MACD is showing a bullish signal.
Critical Levels
1. *Support*: $2.03 and $2.17.
2. *Resistance*: $2.42, then $2.65 or even $3.
Hourly Analysis
1. *Pattern*: Inverted "Head and Shoulders" pattern indicating a continuation of the upward trend.
2. *Momentum*: Bullish momentum with strong moves.
3. *Entry Indicators*: Buy entry when resistance is broken at $2.42, sell entry when dip below $2.17.
Conclusion
XRP reflects a strong uptrend, with a possible correction coming soon. Traders should monitor critical levels and manage risk.
Tips
1. Monitor critical levels.
2. Manage risk using stop and profit tools.
3. Make informed trading decisions.
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