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Let's analyze XRPUSDT on lower time frame:
XRP recently experienced a significant 470% surge within a month. However, this rapid rally is suspected to be a bull trap. Historical data, particularly the 2021 pump followed by an 80% decline, suggests weak investor sentiment. As XRP is currently trading near its strongest resistance, a potential pullback or sideways movement is anticipated. A retest of support levels seems likely before any further upward movement.
RSI overbought (LTF): Indicates potential correction.
MACD slowing momentum (LTF): Suggests a possible pullback.
Key support zones:
$2.22
$1.85
$1.41
Key resistance levels:
$2.9
$3.2
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze XRPUSDT on lower time frame:
XRP recently experienced a significant 470% surge within a month. However, this rapid rally is suspected to be a bull trap. Historical data, particularly the 2021 pump followed by an 80% decline, suggests weak investor sentiment. As XRP is currently trading near its strongest resistance, a potential pullback or sideways movement is anticipated. A retest of support levels seems likely before any further upward movement.
RSI overbought (LTF): Indicates potential correction.
MACD slowing momentum (LTF): Suggests a possible pullback.
Key support zones:
$2.22
$1.85
$1.41
Key resistance levels:
$2.9
$3.2
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.