$XRP /USDT: Correction or Opportunity?
Market Update:
Current Price: $2.3643 (-3.43%)
24H High: $2.4629
24H Low: $2.3273
Volume: 403.14M (USDT), 168.13M (XRP)
Key Observations:
1. Resistance Level: $2.5090
XRP attempted to break this level but retraced, suggesting a strong supply zone.
2. Support Zone: $2.3273 - $2.3500
Price is nearing a critical support area, which could act as a potential bounce-back zone.
Trade Strategy:
Bullish Scenario:
Entry Point: Around $2.35 - $2.37.
Targets:
Target 1: $2.40
Target 2: $2.46
Target 3: $2.51
Stop Loss: Below $2.32.
Bearish Scenario:
A break below $2.32 could lead to a drop toward $2.30 or lower.
Technical Insights:
XRP is currently consolidating after its recent dip, offering traders an opportunity to position for a potential rebound.
Watch for increased buying pressure at support levels to confirm a bullish reversal.
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