$XRP /USDT Trading Signal - Bearish Retest or Recovery?

Current Price: $2.3894 (-3.38%)

24h High: $2.4774

24h Low: $2.3712

24h Volume: 146.50M XRP

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Market Overview

XRP is facing selling pressure after failing to hold above $2.50 resistance. The current dip to $2.37 indicates a potential bearish continuation or a recovery setup.

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Trading Plan (1H Timeframe)

Bullish Scenario:

Entry Zone: $2.38 - $2.40

Targets:

T1: $2.45

T2: $2.50

T3: $2.55

Stop Loss: $2.35

Bearish Scenario:

Entry Zone: Below $2.37

Targets:

T1: $2.34

T2: $2.30

Stop Loss: $2.40

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Technical Insights

MACD: Bearish crossover, indicating downward momentum.

RSI: Oversold zone, hinting at a possible bounce.

Support Levels: $2.37 and $2.30.

Resistance Levels: $2.45 and $2.50.

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Strategy Recommendations

Watch for a break above $2.40 for bullish confirmation.

Increased selling pressure below $2.37 could trigger a deeper pullback.

Use tight stop-loss levels to manage risk in volatile market conditions.

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