$XRP

XRP/USDT Technical Analysis and Trading Strategy📊📈

Trade Setup

Long Entry Zone

Entry: $2.3400 - $2.3550

Look for a bounce near SAR support ($2.3450) with volume confirmation.

Stop Loss

Buy Stop: $2.3200 (below 24-hour low)

🎯 Target Levels for Long Trading

1. Target 1: $2.4000 (approximate profit of 2%)

2. Target 2: $2.4200 (moderate resistance)

3. Target 3: $2.4730 (24-hour high, approximate profit of 4%)

Short Entry Zone

Entry: Below $2.3330 (support breakdown)

Stop Loss: $2.3600 (above SAR)

🎯 Target Levels for Short Trading

1. Target 1: $2.3200 (approximate profit of 1%)

2. Target 2: $2.3000 (next support)

3. Target 3: $2.2800 (deeper support zone)

Strategy Execution

1. Volume Confirmation:

Long Trading: Make sure to increase Buy volume above $2.3400.

Short trade: Confirm strong selling pressure below $2.3330.

2.Risk to reward ratio: Target a 2:1 reward to risk ratio.

3.Trailing stop loss: After reaching target 1, consider using a trailing stop loss to lock in profits.