XRP 2-hour chart

1. General Context:

The current price is at 1.0572, down -5.68% over the analyzed period.

The weekly VWAP is positioned as a dynamic support below the current price (~0.95), suggesting that the asset is still trading above the volume-weighted average value.

2. Technical Indicators:

Williams %R:

It is currently in an oversold region (below -80), indicating a possible exhaustion of selling pressure.

If there is an upward reversal and the indicator returns above -80, this could suggest a resumption of buying strength.

Moving Averages:

The price remains above an upward sloping support moving average (possibly 50-period), reinforcing the uptrend in the short term.

3. Important Levels:

Supports:

VWAP Weekly at ~0.95.

Green zone: 1.1336 to 1.1244 as immediate support.

Resistances:

Red zone: 1.1816 to 1.1913 as key resistance.

Higher resistance at 1.3555 if price breaks above previous levels.

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4. Trading Strategy:

Bullish Scenario:

If Williams %R breaks out of the oversold zone and price breaks above the resistance at 1.1816, the next target is at 1.1913.

A consistent breakout of this region could lead price to test 1.3555.

Bearish Scenario:

If the Williams %R remains in the oversold region and the price loses the Weekly VWAP, the asset may seek support at ~1.1244 or lower levels at 0.95.

5. Recommendations:

For buyers: Wait for a reversal signal from the Williams %R above -80, along with the break of the 1.1816 resistance.

For sellers: Watch for the Williams %R to remain at oversold levels and for the break of supports such as the Weekly VWAP or 1.1244.

This analysis reinforces the importance of monitoring the indicator's movements and price behavior at critical levels.