$XRP XRP/USDT with Fibonacci Retracement

Current Chart and Conditions

The 15-minute chart shows a strong bullish movement followed by a pullback, with Fibonacci retracements applied to analyze support and resistance points.

Fibonacci Levels

0.0 (Start): $2.4401

0.236: $2.4752

0.382: $2.4969

0.5: $2.5144

0.618: $2.5320

0.786: $2.5569

1.0 (Top): $2.5887

Technical Observations

Overall Trend: The price broke the previous resistance zone ($2.5887) before correcting, indicating strong buying momentum. The pullback is natural after the peak at $2.7281.

Fibonacci Retracement:

Primary Support: $2.5569 (0.786 level) served as initial support. If it holds this level, it could consolidate or seek a breakout of the high.

Critical Zone: $2.5144 to $2.5320 (0.5 and 0.618 level) represents the most relevant area. Losing these supports could generate a larger drop to $2.4752 (0.236).

Bollinger Bands:

The upper band indicates strong recent volatility and is now showing compression, suggesting that the price is in a consolidation phase.

MACD:

The signal line has crossed the MACD downwards, suggesting a loss of momentum on the upside and a possible pullback.

RSI:

49.33: Close to neutral. It may point to a sideways movement in the short term, but there is still room for recovery.

Volume:

There was a large spike in volume during the breakout of the previous high, followed by a drop in volume, which confirms the pullback.

Conclusion

Bullish Scenario: If the price remains above the $2.5144 level (0.5 Fibbo) and the volume resumes the rise, it is possible that the price will again seek resistance at $2.5887 and even the high of $2.7281.

Bearish Scenario: If it loses the $2.5144 level, it can seek support at $2.4752 (0.236) and, in a more pessimistic scenario, return to the base support at $2.4401.

Recommendations:

Wait for confirmation of support at the 0.5 level and monitor the volume.

Buy trades should consider a breakout of the high or confirmation of support.

Stop loss: below $2.4401.