Christoe007
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Almost at our target
#Write2Earn Here are some entry and exit points for the XRPUSDT pair on Binance based on recent analyses:
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
We hit our target entry. Hope some of you joined
#Write2Earn Here are some entry and exit points for the XRPUSDT pair on Binance based on recent analyses:
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
#Write2Earn Here's an analysis for entry and exit points for the #BNBUSDT pair on Binance:
Entry Point:
- A good entry point could be around $675, considering recent analysis suggesting this as a buying opportunity, especially if BNB shows signs of breaking out from its current consolidation phase.
Exit Points:
- First Target (TP1): Set your first take-profit at $686.96. This level has been mentioned in trading signals as an initial target for profit-taking.
- Second Target (TP2): Aim for $700. This is a psychological level and has been highlighted as a resistance where traders might look to exit.
- Third Target (TP3): If the bullish momentum continues, $728 could be your next exit point, where another resistance might be encountered.
- Fourth Target (TP4): For a more ambitious move, consider $756 as a long-term target, especially if there's significant buying pressure and positive market sentiment.
Stop Loss:
- Place your stop-loss below $650 to protect against a significant downturn, which has been noted as a key support level where the price might find difficulty in dropping below.
Entry Point:
- A good entry point could be around $675, considering recent analysis suggesting this as a buying opportunity, especially if BNB shows signs of breaking out from its current consolidation phase.
Exit Points:
- First Target (TP1): Set your first take-profit at $686.96. This level has been mentioned in trading signals as an initial target for profit-taking.
- Second Target (TP2): Aim for $700. This is a psychological level and has been highlighted as a resistance where traders might look to exit.
- Third Target (TP3): If the bullish momentum continues, $728 could be your next exit point, where another resistance might be encountered.
- Fourth Target (TP4): For a more ambitious move, consider $756 as a long-term target, especially if there's significant buying pressure and positive market sentiment.
Stop Loss:
- Place your stop-loss below $650 to protect against a significant downturn, which has been noted as a key support level where the price might find difficulty in dropping below.
#Write2Earn Here's an analysis for entry and exit points for the TRUMPUSDT pair on Binance:
Entry Point:
- Consider entering around $33 to $36. This range has been discussed as a potential accumulation zone, particularly if the price shows signs of a bullish breakout from a pattern like a head-and-shoulders or a triangle.
Exit Points:
- First Target (TP1): Set your first take-profit at $41.56, which aligns with resistance levels where selling might increase.
- Second Target (TP2): Aim for $51.38 if the bullish trend continues; this could be where the market might see some profit-taking due to previous highs or resistance.
- Third Target (TP3): For those looking for a significant move, $59 could be a target, corresponding to a Fibonacci retracement level or a potential breakout point.
Stop Loss:
- A stop-loss should be placed below $24.80 to safeguard against a sudden drop, especially if the market doesn't confirm the expected bullish trend.
Entry Point:
- Consider entering around $33 to $36. This range has been discussed as a potential accumulation zone, particularly if the price shows signs of a bullish breakout from a pattern like a head-and-shoulders or a triangle.
Exit Points:
- First Target (TP1): Set your first take-profit at $41.56, which aligns with resistance levels where selling might increase.
- Second Target (TP2): Aim for $51.38 if the bullish trend continues; this could be where the market might see some profit-taking due to previous highs or resistance.
- Third Target (TP3): For those looking for a significant move, $59 could be a target, corresponding to a Fibonacci retracement level or a potential breakout point.
Stop Loss:
- A stop-loss should be placed below $24.80 to safeguard against a sudden drop, especially if the market doesn't confirm the expected bullish trend.
#Write2Earn #BTC Here's an analysis for entry and exit points for the #BTCUSDT pair on Binance:
Entry Point:
- An entry point could be around $98,000 to $99,100. This range has been highlighted as a potential area for bullish momentum, especially if Bitcoin shows signs of breaking out from its current consolidation or support levels.
Exit Points:
- First Target (TP1): Set your first take-profit at around $99,900, as this could be a resistance level where some traders might lock in profits.
- Second Target (TP2): Look to exit at $100,850; this level has been discussed as a significant resistance where Bitcoin might face selling pressure.
- Third Target (TP3): If the bullish trend persists, aim for $101,850, which could be another resistance point for profit-taking.
- Fourth Target (TP4): For those with a longer-term bullish outlook, $104,600 might be a good exit point to consider, but this would require a significant bullish push.
Stop Loss:
- Place your stop-loss just below $95,000 or $99,800 to protect against a significant downturn. These levels have been noted as key support areas where the price might find difficulty in dropping below.
Entry Point:
- An entry point could be around $98,000 to $99,100. This range has been highlighted as a potential area for bullish momentum, especially if Bitcoin shows signs of breaking out from its current consolidation or support levels.
Exit Points:
- First Target (TP1): Set your first take-profit at around $99,900, as this could be a resistance level where some traders might lock in profits.
- Second Target (TP2): Look to exit at $100,850; this level has been discussed as a significant resistance where Bitcoin might face selling pressure.
- Third Target (TP3): If the bullish trend persists, aim for $101,850, which could be another resistance point for profit-taking.
- Fourth Target (TP4): For those with a longer-term bullish outlook, $104,600 might be a good exit point to consider, but this would require a significant bullish push.
Stop Loss:
- Place your stop-loss just below $95,000 or $99,800 to protect against a significant downturn. These levels have been noted as key support areas where the price might find difficulty in dropping below.
#Write2Earn Here are some entry and exit points for the XRPUSDT pair on Binance based on recent analyses:
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
Entry Point:
- A potential entry could be around $2.80 as this has been mentioned as an optimal entry point in some analyses, especially if there's a significant pullback. This level could act as a support where buying pressure might increase.
Exit Points:
- First Target (TP1): Aim for $3.08, which is a key retracement level where resistance might be encountered.
- Second Target (TP2): If the momentum continues, consider $3.24 as the next resistance where you might want to take some profit.
- Third Target (TP3): An ambitious but possible target could be $3.50, where a significant sell wall has been observed, potentially offering resistance.
Stop Loss:
- Place your stop-loss below $2.70 to manage risk, especially if the price does not hold above the suggested entry point.
Me
Quoted content has been removed
What a dumb dumb
#USTaxExemptionPlan
If you had invested $500 in XRP on April 18, 2023, when its price was $0.00000005514, you would have acquired about 9,065,000,000 XRP tokens. 💸
As of January 22, 2025, the price of XRP is $0.00001606. 📈
This means that your 9,065,000,000 XRP tokens would now be worth approximately $145,678.90. 💰
In other words, your initial $500 investment would have increased by about 291 times. 🚀
If you had invested $500 in XRP on April 18, 2023, when its price was $0.00000005514, you would have acquired about 9,065,000,000 XRP tokens. 💸
As of January 22, 2025, the price of XRP is $0.00001606. 📈
This means that your 9,065,000,000 XRP tokens would now be worth approximately $145,678.90. 💰
In other words, your initial $500 investment would have increased by about 291 times. 🚀
Dollar cost averaging is always a winner. IF you can, invest more to bring down your or lower your entry point. 70 is quite high
$TRUMP should i buy this coin or not ? I invested 10k at 70 dollars which is now 5 k so lost 5k already but what you suggest should i invest more or not?
Based on? The 5min timeframe? Too early to predict noob
$TRUMP 🔥💯
/USDT Technical Analysis
📌 Entry Level: 73.03
🎯 Target 1: 80.00
🎯 Target 2: 85.00
🔻 Support Levels:
1️⃣ 70.00
2️⃣ 60.00
🔺 Resistance Levels:
1️⃣ 80.00
2️⃣ 85.00
💡 Market Outlook: The pair is showing bullish momentum, with a potential breakout above 80.00. If sustained, it could push toward 85.00. However, a drop below 70.00 may test the 60.00 support. Trade cautiously and manage risk effectively!
What are your thoughts on this setup?
/USDT Technical Analysis
📌 Entry Level: 73.03
🎯 Target 1: 80.00
🎯 Target 2: 85.00
🔻 Support Levels:
1️⃣ 70.00
2️⃣ 60.00
🔺 Resistance Levels:
1️⃣ 80.00
2️⃣ 85.00
💡 Market Outlook: The pair is showing bullish momentum, with a potential breakout above 80.00. If sustained, it could push toward 85.00. However, a drop below 70.00 may test the 60.00 support. Trade cautiously and manage risk effectively!
What are your thoughts on this setup?
#Write2Earn #XRP #tradingranges
The current market trend for XRP USDT is **bearish**, as the price has been declining since the beginning of January 2024. The price is currently trading below the **support** level of $0.519, which was previously a **resistance** level in December 2023. This indicates a possible continuation of the downtrend towards the next support level of $0.5021.
However, there are some signs of a possible reversal to the upside, such as:
- The **RSI** indicator is near the **oversold** zone, which suggests that the selling pressure is weakening and the buyers may soon take over.
- The price is forming a **bullish divergence** with the RSI, which means that the price is making lower lows while the RSI is making higher lows. This is a sign of a potential trend reversal.
- The price is also forming a **double bottom** pattern, which is a bullish reversal pattern that occurs after a prolonged downtrend. The pattern is confirmed when the price breaks above the **neckline** of the pattern, which is around $0.5257.
Therefore, the market trend for XRP USDT is bearish, but there are some signs of a possible reversal to the upside. A break above the resistance level of $0.5257 could signal a change in the trend, while a break below the support level of $0.5021 could confirm the continuation of the downward trend.
The information I provided is based on the **4-hour** time frame, which is a common chart interval for analyzing the cryptocurrency market trends. The 4-hour time frame can capture the short-term price movements and the medium-term trends, as well as provide some insights into the long-term outlook. However, different time frames may show different patterns and signals, so it is advisable to check multiple time frames before making a trading decision.
Please consider following me.
The current market trend for XRP USDT is **bearish**, as the price has been declining since the beginning of January 2024. The price is currently trading below the **support** level of $0.519, which was previously a **resistance** level in December 2023. This indicates a possible continuation of the downtrend towards the next support level of $0.5021.
However, there are some signs of a possible reversal to the upside, such as:
- The **RSI** indicator is near the **oversold** zone, which suggests that the selling pressure is weakening and the buyers may soon take over.
- The price is forming a **bullish divergence** with the RSI, which means that the price is making lower lows while the RSI is making higher lows. This is a sign of a potential trend reversal.
- The price is also forming a **double bottom** pattern, which is a bullish reversal pattern that occurs after a prolonged downtrend. The pattern is confirmed when the price breaks above the **neckline** of the pattern, which is around $0.5257.
Therefore, the market trend for XRP USDT is bearish, but there are some signs of a possible reversal to the upside. A break above the resistance level of $0.5257 could signal a change in the trend, while a break below the support level of $0.5021 could confirm the continuation of the downward trend.
The information I provided is based on the **4-hour** time frame, which is a common chart interval for analyzing the cryptocurrency market trends. The 4-hour time frame can capture the short-term price movements and the medium-term trends, as well as provide some insights into the long-term outlook. However, different time frames may show different patterns and signals, so it is advisable to check multiple time frames before making a trading decision.
Please consider following me.
Please follow me for #BTC #tradingranges
- The BTC/USD pair is trading at **$43,130 USD** as of 07:42:15 GMT+02:00 on February 6, 2024.
- The pair is in a **sideways trend** on the one hour chart, as indicated by the price fluctuating between the **$40,000 USD** and **$52,000 USD** levels, and the moving averages converging around the price.
- The pair is **neutral** on the one hour chart, as indicated by the RSI around 50, the Stochastic RSI crossing over at the middle, and the CCI around zero.
- The pair is facing **strong resistance** at the **$52,000 USD** level, which is the upper boundary of the range, the 50% Fibonacci retracement level of the recent decline from $69,000 USD to $43,130 USD, and a previous support-turned-resistance level.
- The pair is also facing **weak support** at the **$40,000 USD** level, which is the lower boundary of the range, the 23.6% Fibonacci extension level of the same decline, and a psychological round number.
- A possible **entry point** for a short position is at the **$50,778 USD** level, which is the 38.2% Fibonacci retracement level and a previous support-turned-resistance level.
- A possible **exit point** for a short position is at the **$41,222 USD** level, which is the 161.8% Fibonacci extension level and a previous resistance-turned-support level.
- A possible **entry point** for a long position is at the **$41,222 USD** level, which is the 76.4% Fibonacci retracement level and a previous support-turned-resistance level.
- A possible **exit point** for a long position is at the **$50,778 USD** level, which is the 23.6% Fibonacci retracement level and a previous resistance-turned-support level.
- The BTC/USD pair is trading at **$43,130 USD** as of 07:42:15 GMT+02:00 on February 6, 2024.
- The pair is in a **sideways trend** on the one hour chart, as indicated by the price fluctuating between the **$40,000 USD** and **$52,000 USD** levels, and the moving averages converging around the price.
- The pair is **neutral** on the one hour chart, as indicated by the RSI around 50, the Stochastic RSI crossing over at the middle, and the CCI around zero.
- The pair is facing **strong resistance** at the **$52,000 USD** level, which is the upper boundary of the range, the 50% Fibonacci retracement level of the recent decline from $69,000 USD to $43,130 USD, and a previous support-turned-resistance level.
- The pair is also facing **weak support** at the **$40,000 USD** level, which is the lower boundary of the range, the 23.6% Fibonacci extension level of the same decline, and a psychological round number.
- A possible **entry point** for a short position is at the **$50,778 USD** level, which is the 38.2% Fibonacci retracement level and a previous support-turned-resistance level.
- A possible **exit point** for a short position is at the **$41,222 USD** level, which is the 161.8% Fibonacci extension level and a previous resistance-turned-support level.
- A possible **entry point** for a long position is at the **$41,222 USD** level, which is the 76.4% Fibonacci retracement level and a previous support-turned-resistance level.
- A possible **exit point** for a long position is at the **$50,778 USD** level, which is the 23.6% Fibonacci retracement level and a previous resistance-turned-support level.
Please follow me for more #XRP #tradingranges
- The XRP/USD pair is trading at **0.50667 USD** as of 07:42:15 GMT+02:00 on February 6, 2024.
- The pair is in a **sideways trend** on the one hour chart, as indicated by the price fluctuating between the **0.50000 USD** and **0.52000 USD** levels, and the moving averages converging around the price.
- The pair is **neutral** on the one hour chart, as indicated by the RSI around 50, the Stochastic RSI crossing over at the middle, and the CCI around zero.
- The pair is facing **strong resistance** at the **0.52000 USD** level, which is the upper boundary of the range, the 50% Fibonacci retracement level of the recent decline from 0.53333 USD to 0.50667 USD, and a previous support-turned-resistance level¹²³.
- The pair is also facing **weak support** at the **0.50000 USD** level, which is the lower boundary of the range, the 23.6% Fibonacci extension level of the same decline, and a psychological round number¹²³.
- A possible **entry point** for a short position is at the **0.51778 USD** level, which is the 38.2% Fibonacci retracement level and a previous support-turned-resistance level¹²³.
- A possible **exit point** for a short position is at the **0.50222 USD** level, which is the 161.8% Fibonacci extension level and a previous resistance-turned-support level¹²³.
- A possible **entry point** for a long position is at the **0.50222 USD** level, which is the 76.4% Fibonacci retracement level and a previous support-turned-resistance level¹²³.
- A possible **exit point** for a long position is at the **0.51778 USD** level, which is the 23.6% Fibonacci retracement level and a previous resistance-turned-support
- The XRP/USD pair is trading at **0.50667 USD** as of 07:42:15 GMT+02:00 on February 6, 2024.
- The pair is in a **sideways trend** on the one hour chart, as indicated by the price fluctuating between the **0.50000 USD** and **0.52000 USD** levels, and the moving averages converging around the price.
- The pair is **neutral** on the one hour chart, as indicated by the RSI around 50, the Stochastic RSI crossing over at the middle, and the CCI around zero.
- The pair is facing **strong resistance** at the **0.52000 USD** level, which is the upper boundary of the range, the 50% Fibonacci retracement level of the recent decline from 0.53333 USD to 0.50667 USD, and a previous support-turned-resistance level¹²³.
- The pair is also facing **weak support** at the **0.50000 USD** level, which is the lower boundary of the range, the 23.6% Fibonacci extension level of the same decline, and a psychological round number¹²³.
- A possible **entry point** for a short position is at the **0.51778 USD** level, which is the 38.2% Fibonacci retracement level and a previous support-turned-resistance level¹²³.
- A possible **exit point** for a short position is at the **0.50222 USD** level, which is the 161.8% Fibonacci extension level and a previous resistance-turned-support level¹²³.
- A possible **entry point** for a long position is at the **0.50222 USD** level, which is the 76.4% Fibonacci retracement level and a previous support-turned-resistance level¹²³.
- A possible **exit point** for a long position is at the **0.51778 USD** level, which is the 23.6% Fibonacci retracement level and a previous resistance-turned-support
If you are interested in trading XRP in the short term, you should be aware of the technical and fundamental factors that influence its price movements. Here are some possible trade setups based on the current market conditions:
Bullish scenario: If XRP breaks above the resistance level of $0.5636, which has been tested several times in the past, it could signal a bullish reversal and a start of a new uptrend. A weekly close above this level would confirm the breakout and open the door for further gains. The next targets could be $0.7, $0.8, and $1, which are previous highs and psychological levels.
Bearish scenario: If XRP fails to break above the resistance level of $0.5636, it could resume its downtrend and test the support levels of $0.5, $0.45, and $0.4, which are previous lows and Fibonacci retracement levels. A weekly close below $0.4 would indicate a strong bearish momentum and a potential drop to $0.3 or lower.
As always, you should use proper risk management and stop-loss orders when trading XRP, as the market can be volatile and unpredictable. You should also do your own research and analysis before making any trading decisions. I hope this information was helpful and informative. Happy trading! 😊 #XRP
Bullish scenario: If XRP breaks above the resistance level of $0.5636, which has been tested several times in the past, it could signal a bullish reversal and a start of a new uptrend. A weekly close above this level would confirm the breakout and open the door for further gains. The next targets could be $0.7, $0.8, and $1, which are previous highs and psychological levels.
Bearish scenario: If XRP fails to break above the resistance level of $0.5636, it could resume its downtrend and test the support levels of $0.5, $0.45, and $0.4, which are previous lows and Fibonacci retracement levels. A weekly close below $0.4 would indicate a strong bearish momentum and a potential drop to $0.3 or lower.
As always, you should use proper risk management and stop-loss orders when trading XRP, as the market can be volatile and unpredictable. You should also do your own research and analysis before making any trading decisions. I hope this information was helpful and informative. Happy trading! 😊 #XRP
According to Barchart, Bitcoin is currently trading at $37,869.70, with a market capitalization of $709.5 billion and a 24-hour volume of $28 billion. Bitcoin has a circulating supply of 18.7 million and a total supply of 21 million.
- Bitcoin is in an uptrend, as it has been making higher highs and higher lows since reaching a low of $28,800.10 on January 22, 2024. Bitcoin is also above its 50-hour and 200-hour simple moving averages (SMA), which indicate bullish momentum.
- Bitcoin is facing strong resistance at $38,500, which is the high of the day and the upper boundary of an ascending channel that has been forming since January 23, 2024. Bitcoin needs to break above this level to confirm a trend continuation and target the next resistance levels at $40,000 (psychological level) and $42,000 (January 8 high).
- Bitcoin is supported by $37,000, which is the low of the day and the lower boundary of the ascending channel. Bitcoin needs to stay above this level to maintain the uptrend and target the next support levels at $36,000 (50-hour SMA) and $34,000 (200-hour SMA)
#BTC
- Bitcoin is in an uptrend, as it has been making higher highs and higher lows since reaching a low of $28,800.10 on January 22, 2024. Bitcoin is also above its 50-hour and 200-hour simple moving averages (SMA), which indicate bullish momentum.
- Bitcoin is facing strong resistance at $38,500, which is the high of the day and the upper boundary of an ascending channel that has been forming since January 23, 2024. Bitcoin needs to break above this level to confirm a trend continuation and target the next resistance levels at $40,000 (psychological level) and $42,000 (January 8 high).
- Bitcoin is supported by $37,000, which is the low of the day and the lower boundary of the ascending channel. Bitcoin needs to stay above this level to maintain the uptrend and target the next support levels at $36,000 (50-hour SMA) and $34,000 (200-hour SMA)
#BTC
According to Bar-chart, XRP is currently trading at $0.517990, with a market capitalization of $23.6 billion and a 24-hour volume of $1.8 billion. XRP has a circulating supply of 45.6 billion and a total supply of 100 billion.
- XRP is in a downtrend, as it has been making lower highs and lower lows since reaching a peak of $1.96 on November 24, 2023. XRP is also below its 50-hour and 200-hour simple moving averages (SMA), which indicate bearish momentum.
- XRP is facing strong resistance at $0.52586, which is the high of the day and the upper boundary of a descending channel that has been forming since January 23, 2024. XRP needs to break above this level to confirm a trend reversal and target the next resistance levels at $0.55 (50-hour SMA) and $0.58 (200-hour SMA).
- XRP is supported by $0.50851, which is the low of the day and the lower boundary of the descending channel. XRP needs to stay above this level to avoid further losses and target the next support levels at $0.50 (psychological level) and $0.48 (January 25 low).
- The relative strength index (RSI) is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). XRP's 14-hour RSI is currently at 41.76, which indicates that XRP is neither oversold nor overbought and has room for further movement in either direction.
Disclaimer: This is not investment advice.#xrp
- XRP is in a downtrend, as it has been making lower highs and lower lows since reaching a peak of $1.96 on November 24, 2023. XRP is also below its 50-hour and 200-hour simple moving averages (SMA), which indicate bearish momentum.
- XRP is facing strong resistance at $0.52586, which is the high of the day and the upper boundary of a descending channel that has been forming since January 23, 2024. XRP needs to break above this level to confirm a trend reversal and target the next resistance levels at $0.55 (50-hour SMA) and $0.58 (200-hour SMA).
- XRP is supported by $0.50851, which is the low of the day and the lower boundary of the descending channel. XRP needs to stay above this level to avoid further losses and target the next support levels at $0.50 (psychological level) and $0.48 (January 25 low).
- The relative strength index (RSI) is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). XRP's 14-hour RSI is currently at 41.76, which indicates that XRP is neither oversold nor overbought and has room for further movement in either direction.
Disclaimer: This is not investment advice.#xrp
#XRP XRP is currently trading at 0.62294 USD as of today at 13:43 UTC-81.
XRP is in an uptrend since November 28, when it bounced from the 0.5 fibonacci retracement level at 0.54767 USD1.
XRP has broken above the 0.786 fibonacci retracement level at 0.61486 USD, which was acting as a resistance for the past few days1.
XRP is now facing the next resistance at the 1 fibonacci retracement level at 0.69200 USD, which is also the all-time high reached on April 141.
If XRP can break above this level, it may indicate that the uptrend is strong and has more room to grow. The next possible targets are the fibonacci extension levels at 0.74786 USD (1.1272), 0.80872 USD (1.1618), 0.87600 USD (1.2), 0.96186 USD (1.2618), and 1.13160 USD (1.4236)1.
However, if XRP fails to break above the 1 fibonacci retracement level, it may face a pullback or a reversal. The possible support levels are the fibonacci retracement levels at 0.61486 USD (0.786), 0.57600 USD (0.618), 0.54767 USD (0.5), 0.51933 USD (0.382), and 0.48014 USD (0.236)1.
XRP is in an uptrend since November 28, when it bounced from the 0.5 fibonacci retracement level at 0.54767 USD1.
XRP has broken above the 0.786 fibonacci retracement level at 0.61486 USD, which was acting as a resistance for the past few days1.
XRP is now facing the next resistance at the 1 fibonacci retracement level at 0.69200 USD, which is also the all-time high reached on April 141.
If XRP can break above this level, it may indicate that the uptrend is strong and has more room to grow. The next possible targets are the fibonacci extension levels at 0.74786 USD (1.1272), 0.80872 USD (1.1618), 0.87600 USD (1.2), 0.96186 USD (1.2618), and 1.13160 USD (1.4236)1.
However, if XRP fails to break above the 1 fibonacci retracement level, it may face a pullback or a reversal. The possible support levels are the fibonacci retracement levels at 0.61486 USD (0.786), 0.57600 USD (0.618), 0.54767 USD (0.5), 0.51933 USD (0.382), and 0.48014 USD (0.236)1.
#MyFirstFeedPost Using the Fibonacci retracement tool on the hourly timeframe, we can see that the most recent swing high was at $0.78 on December 4, and the most recent swing low was at $0.51 on December 10. Drawing a line from the swing high to the swing low, we can see the Fibonacci retracement levels on the chart4
As of December 10, the price of XRP was trading around $0.54, which is slightly above the 23.6% Fibonacci retracement level. This means that the price has retraced about 23.6% of the previous downtrend, and could potentially find some support at this level. However, if the price breaks below this level, it could indicate a continuation of the downtrend, and the next possible support level could be at the 38.2% Fibonacci retracement level, which is around $0.594
On the other hand, if the price bounces back from the 23.6% Fibonacci retracement level, it could indicate a reversal of the downtrend, and the next possible resistance level could be at the 50% Fibonacci retracement level, which is around $0.65. This level is also close to the 200-period moving average, which is a common indicator of the long-term trend. If the price breaks above this level, it could signal a change in the trend, and the next possible resistance level could be at the 61.8% Fibonacci retracement level, which is around $0.704
As of December 10, the price of XRP was trading around $0.54, which is slightly above the 23.6% Fibonacci retracement level. This means that the price has retraced about 23.6% of the previous downtrend, and could potentially find some support at this level. However, if the price breaks below this level, it could indicate a continuation of the downtrend, and the next possible support level could be at the 38.2% Fibonacci retracement level, which is around $0.594
On the other hand, if the price bounces back from the 23.6% Fibonacci retracement level, it could indicate a reversal of the downtrend, and the next possible resistance level could be at the 50% Fibonacci retracement level, which is around $0.65. This level is also close to the 200-period moving average, which is a common indicator of the long-term trend. If the price breaks above this level, it could signal a change in the trend, and the next possible resistance level could be at the 61.8% Fibonacci retracement level, which is around $0.704
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