$XRP analysis; Wait for the breakout and than go for long on $XRP
Current Market Observation: The 1-hour chart for $XRP indicates the price consolidating near a strong support level around $2.1450-$2.1600. Sellers are losing momentum as the price approaches this zone, while a potential breakout above the resistance level near $2.1900 could trigger a bullish rally.
Trading Setup:
Entry Zone (Long): $2.1700 - $2.1900 (wait for breakout confirmation).
Targets:
Target 1 (TP1): $2.2400
Target 2 (TP2): $2.3000
Stop Loss: Below $2.1450
Market Sentiment:
Bullish momentum is expected if the price breaks above the $2.1900 resistance, which would confirm the end of consolidation.
A strong bounce from the support zone strengthens the probability of a rally toward the upper targets.
Key Levels to Watch:
Support: $2.1450-$2.1600
Resistance: $2.1900
Major Target: $2.3000
Secure partial profits near TP1 and adjust stop loss to breakeven to manage risks effectively.