Brief Analysis - AN MISSION FOCUSED Team
We note that XRP/USDT has made a clear breakout of the CHoCH areas supported by high liquidity, reflecting strong buying momentum. With this sharp rise and no clear correction after the breakout, a possible market correction is expected in the coming weeks, especially if the recent high is not broken.
Key monitoring points:
1. Monitor the news: Any positive news may push the currency to continue the upward momentum.
2. Sideways Trading: If the price moves sideways at current high levels, it may indicate accumulation in preparation for an upcoming move.
3. Possibility of correction: The market may witness a natural correction as a result of profit taking, which is an opportunity for informed buying.
Recommendations:
Traders should watch for new liquidity areas, setting support and resistance levels on the daily time frame.
It is essential to adhere to risk management, as a breakout of the top levels or a deep correction depends largely on the overall market movement.
Analysis provided by AN MISSION FOCUSED team to ensure accurate and always up-to-date investment insights.
