According to XRP's 4-hour candlestick chart, the price is currently running between the medium and short-term moving averages, and the recent shock adjustment characteristics are obvious. The upper 2.50 is a short-term pressure level, and the lower 2.20 area is a key support level. The market sentiment is relatively cautious.
Moving average system: MA7 (2.32) and MA30 (2.43) form a dead cross, and the short-term trend is bearish. MA100 (2.41) is flat, indicating that the medium-term trend is in a state of consolidation. The price is between the moving averages, indicating that the market direction is not yet fully clear.
K-line pattern: The high point of 2.91 gradually moves down, and the recent lower point of 2.20 forms an obvious support. Yesterday, the price rebounded after testing the support, but the rebound was weak and the volume was insufficient.
RSI: Close to 40-45, indicating that the price has a short-term repair need.
MACD: The fast and slow lines are glued together below the zero axis, the green column is gradually shortening, and the short momentum is weakening.
Trading volume analysis: The trading volume showed a decreasing trend, indicating that the market was in a wait-and-see mood.
Today's operation suggestions
Direction 1: Bullish (support rebound)
Opening position: 2.30-2.32 (long orders near the support level)
First stop profit level: 2.42 (near MA30)
Second stop profit position: 2.50 (short-term high pressure point)
Stop loss: 2.20 (stop loss if it falls below key support)
If the price gets support in the 2.30-2.32 area, there is a high probability that it will rebound to 2.42-2.50. It is necessary to pay attention to the changes in trading volume. If the rebound is not accompanied by volume, the profit target may be difficult to achieve.
Direction 2: Bearish (continue to decline)
Opening position: 2.40-2.42 (short order when rebounding to the pressure level)
First take profit level: 2.30 (support area)
Second stop profit level: 2.20 (test the previous low support)
Stop loss: 2.50 (breakthrough pressure stop loss)
If the price rebounds to the 2.40-2.42 area and is blocked, it means that the bears are still in control of the market, or further test the support below 2.20. XRP rebounded slightly after receiving support near 2.30, but the momentum was limited, indicating that the market still lacks a clear direction in the short term.
If it can stabilize above 2.30, there may be a short-term rebound target of 2.42-2.50. If it falls below the 2.30 support, it may further test 2.20 in the short term. Falling below 2.20 may trigger further downward risks, and stop losses need to be stopped in time. Crypto market sentiment or policy news may trigger sudden market conditions. If the rebound volume is insufficient, the price may fall into a narrow range of fluctuations. The current market volatility is intensifying. It is recommended to operate with a light position, focus on the performance of the 2.30 support and the 2.42 pressure, flexibly adjust strategies, and strictly implement risk control measures.
