🚨$XRP /USDT Technical Analysis🚨
📊$XRP /USDT is currently trading at $1.4715, down 0.03% in the last 24 hours. The 24-hour trading volume is $439.43 million, indicating moderate activity.
On the 1-hour chart, XRP/USDT is forming a descending triangle pattern, suggesting a potential bearish breakout. The price is currently testing the lower trendline of the triangle, and a break below this level could trigger a move towards the $1.4292 support level.
📉Short Entry: $1.4715
🟢Short Stop Loss: $1.5217 (24-hour high)
🎯Short Target: $1.4292 (24-hour low)
On the other hand, if the price breaks above the upper trendline of the triangle, it could signal a bullish reversal. In this case, the next resistance level to watch is the 24-hour high of $1.5217.
📈Long Entry: $1.5217
🔴Long Stop Loss: $1.4292 (24-hour low)
🎯Long Target: $1.6000 (psychological level)
⚠️Overall, XRP/USDT is currently in a bearish trend, but a break above the descending triangle could signal a bullish reversal. Traders should monitor the price action closely and adjust their positions accordingly.
🔥Follow me for daily updates🔥