$XRP is currently trading at $2.2102, attempting to recover from its recent dip with resistance visible near $2.2500. A clear breakout or breakdown from the current range will define the next significant move.
Trade Setup:
Long Setup:
Entry: Above $2.2500 (Breakout confirmation)
Stop Loss (SL): $2.2000
Take Profit 1 (TP1): $2.3000
Take Profit 2 (TP2): $2.4000
Short Setup:
Entry: Below $2.2000 (Breakdown confirmation)
Stop Loss (SL): $2.2500
Take Profit 1 (TP1): $2.1500
Take Profit 2 (TP2): $2.1000
Technical Outlook:
The price action shows consolidation near $2.2100, suggesting indecision in the market. A sustained breakout above $2.2500 could trigger bullish momentum, targeting $2.4000. On the flip side, a breakdown below $2.2000 may intensify bearish pressure, driving the price lower.
Traders should wait for confirmation before entering and ensure disciplined risk management with tight stop losses.