XRP: The explosion after consolidation, how will the trend evolve?
With heavy pressure and strong support, the market is about to choose a direction!
Opportunities for short-term traders are here!
Market Analysis
XRP is currently in a correction phase, with market sentiment appearing somewhat cautious. After a strong upward trend, it has entered a consolidation area, but the short-term support is clearly strong. We may soon face a critical moment for a trend reversal, so close attention should be paid to breakout situations.
Support and Resistance
• Support Level: $2.10, $2.00, $1.90
• Resistance Level: $2.30, $2.40, $2.50
Short-Term Trading Strategy
1. Long Position Plan
• Opening: $2.10
• Adding: $2.00
• Stop Loss: Below $1.90
• Take Profit: $2.30, $2.40, $2.50
2. Short Position Plan
• Opening: $2.30
• Adding: $2.40
• Stop Loss: Above $2.50
• Take Profit: $2.10, $2.00, $1.90
My Prediction
XRP may continue to maintain a consolidation trend in the short term, but the support is relatively solid, leaning towards a short-term bullish outlook, seeking opportunities to position at lower levels.
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