Analyzing the XRP/USDT chart reveals some important aspects:
1. Price movement & trend
Current price: 2.4647 USDT
24h high/low: 2.4798 / 2.3662 USDT
Daily change: +1.82%
Long-term rise: A strong uptrend can be seen over the last 90 days (+361.30%), 180 days (+448.69%) and 1 year (+322.76%).
2. Technical indicators
Moving averages (MA):
MA(7): 2.2315 (Short-term average)
MA(25): 2.3000 (Medium-term average)
MA(99): 1.2949 (Long-term average)
The price is above all moving averages, indicating a bullish structure.
MACD indicator:
DIF: 0.0639
DEA: 0.0710
MACD value: -0.0071
The MACD is slightly below the zero line, indicating a potential consolidation or a slight correction.
Volume:
The trading volume is 244.20 million XRP and 591.50 million USDT, indicating strong market activity.
3. Resistances and supports
Resistance zones: 2.48 - 2.50 USDT (current 24h high)
Support zones: 2.30 - 2.35 USDT (MA25 as support)
Strong long-term support: 1.30 - 1.40 USDT (MA99)
Conclusion & recommended action
The trend is still up, but the MACD indicates a slight consolidation.
Short term: Possibility of a correction to 2.35 USDT before the uptrend resumes.
Long term: The strong uptrend remains intact as long as the price stays above 2.30 USDT.
Entry point: If the price tests the support at 2.30-2.35 USDT, this could be a good buy point.
Exit point: If the price breaks above 2.50 USDT, a target of 2.90-3.00 USDT would be realistic.
Recommendation:
Traders: Short-term profits could be realized at 2.50 USDT.
Investors: Long-term bull trend remains, use pullbacks as a buying opportunity.
Hedging: Stop loss below 2.30 USDT in case a major correction begins.
