As XRP navigates a consolidation phase, there are three compelling reasons why it could break out and reach $277 by October, driven by increasing adoption in global finance.
1. Symmetrical Triangle Pattern: The current sideways action is indicative of a symmetrical triangle pattern, suggesting that XRP is poised for a breakout. 2. Growing Global Use Cases: Recent transactions, such as the oil trade between India and the UAE using the XRP Ledger, highlight its effectiveness for large-scale transactions, showcasing its real-world utility. 3. Institutional Adoption: Major players like Wells Fargo have integrated XRP for credit card and loan payments, increasing demand as more institutions recognize its potential in mainstream finance.
Setup: Support Flip & Demand Zone • Bias: Bullish • Key Levels: • Support Zone: 3.600 - 3.800 • First Resistance: 4.200 • Potential Target: 4.400 • Entry Plan: • Ideal entry near 3.800 or a deeper test of 3.600 • Watch for bullish price action signals before entering
• Target: • First TP: 4.200 (resistance zone) • Final TP: 4.400 • Invalidation: • If price breaks below 3.500, the bullish bias is invalidated
• Entry Plan: • A bounce from the 18.00 - 18.50 support zone could provide an ideal entry. • Confirmation of bullish price action in this region will be key
• Target: • First TP: 22.00 (supply zone) • Final TP: 24.00 • Invalidation: • A break and close below 17.50 invalidates the bullish setup
Setup: Breakout & Continuation • Bias: Bullish • Key Levels: • Breakout from Consolidation Zone (CHoCH): Around 0.2500 • Weak High: Near 0.4500 • Entry Plan: • Ideal entry would be a retest of the 0.2500-0.2700 zone (previous resistance flipped into support). • A high-volume breakout confirmation supports an entry on the pullback
• Target: • First TP: 0.3500 • Final TP: 0.4500 • Invalidation: • If price falls below 0.2300, the bullish structure is invalidated
Setup: Range and Liquidity Play • Bias: Neutral to bullish • Key Levels: • Weak High: Near 0.003800 • Strong Low: Near 0.002400 • Change of Character (CHoCH) Breakout Level: Around 0.002900
• Entry Plan: • Look for a retest of the demand zone near 0.002800-0.002900 before taking a long position
• A bullish confirmation candle on the 4H timeframe would validate a long entry.
• Target: • First TP: 0.003400 (mid-level) • Final TP: 0.003800 (weak high) • Invalidation: • A 4H close below 0.002600 would invalidate the setup
• Market Structure: BOS followed by a retracement into demand. • Bias: Bullish targeting higher liquidity. • Setup: • Entry: Look for long entries at 0.2680-0.2580 demand zone. • Confirmation: If a bullish ChoCH forms in this zone, enter long
• Market Structure: Bullish continuation after BOS and EQH liquidity sweep. • Bias: Strong bullish momentum
• Setup:
• Entry: Ideal long setup on a retest of 0.1800-0.1850 demand zone. • Confirmation: Look for bullish rejection wicks or lower timeframe ChoCH for entry.
$TRUMP • Market Structure: Strong BOS and price rejection from the demand zone. • Bias: Bullish recovery expected after a possible retracement. • Setup: • Entry: Wait for price to dip into the 18.00 - 17.80 demand zone. • Confirmation: If price forms a bullish ChoCH within this zone, enter long
• Market Structure: Price recently broke a weak high but failed to sustain momentum. • Bias: Bearish short-term, possible retracement
• Setup: • Entry: Look for short positions if price retraces into the premium supply zone. • Confirmation: Watch for another Change of Character (ChoCH) or Break of Structure (BOS) in lower timeframes before entering
Market Structure: • Multiple BOS & EQH break • ChoCH confirmed trend reversal • Weak high near 2.50, acting as a liquidity target
Setup: • Entry: Buy on a retracement to demand at 1.90-2.00 • Target: 2.50 weak high • Stop-Loss: Below 1.80 • Confirmation: Retest of demand with bullish PA
Market Structure: • Multiple BOS with a strong impulsive move • ChoCH confirmed bullish reversal • Strong high near 0.55 as liquidity target
Setup: • Entry: Look for retracement into 0.35-0.38 demand zone • Target: Strong high at 0.55 • Stop-Loss: Below 0.32 • Confirmation: Retest of demand zone with bullish structure shift
Market Structure: • BOS and ChoCH confirmed shift in trend • Equal Lows (EQL) tapped liquidity • Weak high above, acting as a target
Setup: • Entry: Buy on a pullback to 0.0014 - 0.0015 demand zone • Target: Weak high at 0.0019 • Stop-Loss: Below 0.0013 for tight risk management • Confirmation: Retest of demand zone with bullish reaction
Setup: • Entry: Look for a retracement to the demand zone (near 1.00-1.20) before a possible move up. • Target: Major strong high at 4.00 as a long-term target
• Stop-Loss: Below recent weak low (~0.90)
• Confirmation: Wait for bullish candle formations at demand before entering
Key Levels to Watch: • Next Target: $560 resistance zone • Breakout Zone: $574.2 - $574.4 • Major Upside Potential: If TAO clears $574, a move towards $720 is in sight!
Price Action Insight:
• Strong structure forming with equal highs (EQH) acting as a liquidity zone. • Break of structure (BOS) suggests momentum shift to the upside. • Bulls need to clear minor resistance to fuel a rally!
Trade Idea: A confirmed breakout above $574 could send TAO soaring to new highs. Watch for volume and momentum!