XRP/USDT Technical Analysis on the 4-Hour Chart
The 4-hour chart of XRP/USDT features a descending triangle technical pattern, which usually suggests a possible continuation of the current trend or a reversal, depending on the breakout. Let’s analyze the possible scenarios for the coming days:
Possible Scenarios
1️⃣ Upside Breakout (Above $2.30)
If the price breaks the upper resistance of the triangle, especially with increasing volume, XRP is likely to resume the uptrend. In this case:
Next Targets:
Resistance at $2.50.
Extension to $2.90, which is the recent high of the move.
2️⃣ Downside Breakout (Below $2.20)
If the lower support of the triangle at $2.20 is lost, XRP may correct to lower levels. Bearish scenarios include:
Support at $2.06: First level to test.
$1.95 zone: Critical support based on previous highs and lows.
3️⃣ Consolidation
If the price continues inside the triangle, volatility will temporarily decrease. This may indicate that the market is waiting for a catalyst (such as news or increased volume) before taking a clear direction.
Important Indicators
Volume: A significant increase will confirm the breakout, either to the upside or downside.
RSI: Check if it is at overbought or oversold levels to confirm the direction.
Conclusion
XRP is at a critical point, where the breakout of the triangle will be decisive for the next move. Keep an eye on the volume and the mentioned support and resistance levels to identify the direction more accurately.
⚠️ Tip: Maintain a risk management strategy and monitor relevant news that may influence the market. #CryptoHistoricMoment #XRPReclaimsTop3 #XRPPredictions #XRPGoal