XRP has recently experienced a strong rise, with a clear bullish trend shown in the 4-hour chart.
However, it was blocked at 1.635 and pulled back; there is a certain repair demand for the price in the short term, currently oscillating around 1.48.
The short-term moving averages (5MA and 10MA) show signs of turning, indicating a decrease in short-term bullish momentum.
The long-term moving average (30MA) remains upward, indicating that the overall trend is still strong.
The trading volume significantly increased after the breakout, but the current high-level pullback is accompanied by a decrease in volume, indicating a temporary balance of bullish and bearish forces.
(First take profit level): 1.46 - 1.47 (10MA overlapping with previous consolidation area).
(Stop loss level): 1.42 (near the last starting point with 30MA).
(Second take profit level): 1.55 - 1.58 (short-term rebound target range).
If the current price pulls back to around 1.47 and shows a volume increase and a stop-loss signal, consider entering long positions in batches.
The short-term target looks up to 1.55, and if the bullish momentum is strong, further challenges to 1.58 can be observed.
If it falls below 1.42, stop loss and exit to avoid losses caused by deep pullbacks.
If the price cannot effectively break through 1.55, consider reducing positions at this level and wait for a pullback to support before choosing to increase positions.
The current value of RSI is around 70, in the overbought territory; a slight pullback may occur in the short term, but there is still momentum for further upward movement after the pullback.
The middle band of the Bollinger Bands is around 1.48, which is an important support level currently.
The upper rail is suppressed at 1.58, which is an important resistance level for the short term.
Although XRP broke the high point yesterday, it closed with a bearish candle at a high level, indicating heavy selling pressure above in the market, and a short-term adjustment is needed to accumulate strength.
Today, XRP is overall leaning towards a fluctuating upward trend, focusing on the effectiveness of support at 1.47 and the breakthrough situation at resistance of 1.55.
Conservative operation is recommended, wait for confirmation of support or breakthrough before increasing positions.
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