🔥Technical Analysis $XRP 🔥

⭐Main trend:

XRP is in a strong uptrend, with many consecutive green candles, indicating significant buying pressure. Currently, the price has surpassed the moving averages (EMA), with both the short-term EMA (gold) and long-term EMA (green) showing an upward slope, confirming the uptrend.

⭐Support and resistance zones:

Near support: Around 1.40 USDT, where strong buying pressure may be found if the price corrects.

Near resistance: Around 1.60 USDT, this is the price area where XRP may face selling pressure in the short term.

RSI indicator:

RSI is currently in the overbought zone, around 77-78, indicating that the price may correct in the short term to relieve pressure.

⭐Trading plan:

1. Trend Following:

Entry point: Wait for the price to correct to the support area of 1.40-1.45 USDT (combined with reversal candle signals or RSI returning to equilibrium).

Stop-loss: Set the stop-loss below 1.35 USDT, as this is the nearest breakout level of the uptrend.

Take-profit: The area of 1.60-1.70 USDT for the short term or higher expectations if the price continues to rise.

2. Short-term trading (Scalping/Intraday):

With significant volatility on the H4 timeframe, a quick buy and sell strategy can be applied based on rebounds from the short-term EMA. Prioritize trading during the US session, where liquidity is high and prices move strongly.

3. Risk scenario:

If the price breaks below 1.35 USDT with high volume, the uptrend will be invalidated, at which point it is advisable to stop trading or consider panic selling.

💰With the current strong price increase, caution is needed with FOMO. If the price continues to rise without clear correction, wait for more certain signals to avoid risks.