XRP/USDT 1H: Bullish Breakout Holding – Can $2.80 Be Reached?
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Current Market Conditions (Confidence: 8/10):
LONG Trade Setup:
Risk Score:
Market Maker Activity:
Recommendation:
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Current Market Conditions (Confidence: 8/10):
- Price at $2.51, confirming strong bullish breakout.
- RSI at 68.91, approaching overbought territory but still has room for continuation.
- Clear order block formation at $2.35, reinforcing demand.
- No significant bearish divergences present, supporting further upside.
LONG Trade Setup:
- Entry: $2.48 - $2.52 zone.
- Targets:
- T1: $2.65 (initial resistance).
- T2: $2.80 (extended target).
- Stop Loss: $2.35 (below recent support).
Risk Score:
- 7/10 – Favorable risk-to-reward, but watch for profit-taking near resistance zones.
Market Maker Activity:
- Accumulation is evident at higher levels, with minimal selling pressure.
- Strong break above $2.40 suggests continued bullish momentum.
- Key resistance ahead at $2.60, with previous resistance at $2.35 now acting as support.
Recommendation:
- Long positions remain favorable within the $2.48 - $2.52 entry range.
- Monitor price action near $2.60, as this level may provide temporary resistance.
- Volume confirmation needed for a potential move beyond $2.80.
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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.