$XRP

1️⃣ Trend Analysis: Bullish Momentum with Corrections 📈⚠️

•XRP has seen a parabolic rise from approximately $0.48 to a high of $2.90, signaling strong bullish momentum.

•The rally was likely fueled by a combination of breakout buyers and FOMO.

•However, a retracement from $2.90 to $2.29 indicates profit-taking and consolidation at higher levels.

2️⃣ Support and Resistance Zones 🔑📊

•Key Resistance:

•$2.90 is the immediate supply zone, where sellers dominated.

•If broken, the next psychological target could be $3.00+.

•Key Support:

$1.90 (previous local low) acts as a strong demand zone for buyers.

•The $2.29-$2.30 region is showing signs of near-term support, as evidenced by the rebound.

3️⃣Volume Analysis 🔍📉

•The 24-hour volume of 1.40B XRP and 3.03B USDT highlights strong participation in the market.

•Volume peaked during the move toward $2.90 but has since decreased, signaling that momentum might be slowing.

4️⃣ Indicators Overview 📊✨

•Moving Averages (MA):

•Price remains above major MAs, suggesting the bullish trend is intact.

•Bollinger Bands (BOLL):

•The price hit the upper band at $2.90, followed by a correction, which suggests a period of consolidation or a potential reversal.

•RSI (Relative Strength Index):

•Likely in the overbought territory during the pump but could now be stabilizing.

•MACD:

•The histogram might be showing signs of a potential bearish divergence, signaling reduced bullish momentum.

5️⃣ Market Psychology 💡📈

•Bullish Sentiment:

•The sharp uptrend reflects investor confidence, possibly fueled by fundamental news or developments.

•Profit-Taking Zone:

•The rejection at $2.90 indicates traders are locking in profits, leading to short-term volatility.

6️⃣ Next Steps and Scenarios 🛠️🧩

•Bullish Case:

•If XRP reclaims $2.90, it could attempt a new high above $3.00. Keep an eye on volume confirmation.

•Bearish Case:

•A drop below $2.20 might lead to a retest of $1.90, which would still align with the longer-term trend.