XRP Night Market Bold Analysis and Prediction

Market

The spot price of XRP is $1.1661. In the past 24 hours, the highest price of XRP was $1.1900, and the lowest price was $1.1350, with a trading volume of approximately 2 million coins. The market is quite volatile, with prices oscillating between $1.1350 and $1.1900, indicating uncertainty in investor sentiment.

Technical Analysis and Key Levels

From a technical perspective, XRP is currently in a range-bound phase, with clear support and resistance levels:

• Support Level: Around $1.1350, this price level acts as a recent low, showing some buying support. If the price breaks below this support level, it may enter a deeper correction, with a target possibly looking towards $1.1000.

• Resistance Level: Around $1.1900, this price level has faced selling pressure multiple times and has not been effectively broken. If the price breaks above this range, it may further rise to the $1.2000-$1.2200 range.

Overall, XRP is currently maintaining a range-bound phase, and in the short term, attention should be paid to whether the price can break through these key support and resistance levels.

Short-Term Contract Strategy

Based on the current market situation, the following is the recommended T+0 short-term trading strategy:

1. Long Strategy

• Entry Point: When the price retraces to the **$1.1450-$1.1550** range, consider establishing a long position. This price is close to the support level, presenting some rebound opportunities.

• Stop Loss: Set the stop loss at **$1.1300**; if the price breaks below this support level, there may be greater downside risk, and one should timely cut losses to avoid larger losses.

• Target Price: The target price is set in the **$1.1850-$1.1900 range**. If this resistance level is broken, the price may continue to rise to **$1.2000**.

Leverage Suggestion: Use 5-7x leverage; due to XRP's high volatility, appropriate leverage helps to amplify profits but also requires strict risk control to ensure no excessive exposure during volatile markets.

2. Short Strategy

• Entry Point: If the price rebounds to the $1.1850-$1.1900 area, consider establishing a short position. This area has strong selling pressure, making a retracement likely.

• Stop Loss: Set the stop loss at $1.2000; if the price breaks above this resistance level, it may continue to rise, so timely stop loss is needed to prevent larger losses.

• Target Price: The target price is $1.1550-$1.1350; if the price falls back to this range, consider closing the position.

Leverage Suggestion: Use 3-5x leverage.