🔍 Chart Analysis:
🟫 Strong Supply Zone: The price has bounced perfectly off a strong demand zone (labeled "strong supply zone" in the chart, but likely intended to be demand), showing buyer interest near the $2.05–$2.12 range.
📉 Recent Downtrend: XRP recently experienced a sharp decline, but the price has now touched this critical zone, suggesting a potential bullish reversal.
🔁 Potential U-Shaped Recovery: A rounded reversal pattern is indicated with the red curve, aiming for a U-shaped recovery targeting higher resistance levels.
📊 EMA 70 (2.2932): Current price is trading below the EMA, which acts as a short-term resistance. A break above it would be bullish confirmation.
📌 1st Resistance: Around $2.2932, which aligns with the EMA. This is the first challenge for bulls.
📌 2nd Resistance: Near $2.40–$2.47, a critical barrier before long-term targets.
🎯 Long-Term Target: Set near $2.63, the peak from the previous rally, aligning with major resistance.
🕯 Volume: Decent volume spike at the bounce, confirming interest from buyers.
🧠 Trade Setup: Reversal from Strong Demand Zone
📍 Entry Zone:
🔹 Enter between $2.12 – $2.15 (ideal after confirming a bounce or bullish candle above the zone)
🛡️ Stop-Loss (SL):
🔻 Place below the demand zone — $2.05
(Protects from deeper downside if support breaks)
🎯 Take Profit (TP) Targets:
TP1 – $2.29 (🟦 1st Resistance / EMA 70)
🔸 Partial profit booking here; break-even SL for the rest
TP2 – $2.40 (🟦 2nd Resistance)
🔸 Major resistance zone; expect a reaction
TP3 – $2.63 (🔴 Long-term Target / Previous High)
🔸 Full target for position holders
📊 Risk/Reward Ratio:
Approximately 1:2.5 to 1:3.5, depending on entry
🔔 Extra Notes:
📈 Watch for bullish engulfing or hammer candle confirmation before entering.
🔄 If price fails to reclaim EMA 70, re-evaluate trade.
🧠 Manage position size properly — avoid over-leverage.
🔮 Summary:
XRP is attempting a bullish reversal from a key demand zone with potential to target $2.47 and even $2.63 long term, provided it clears resistance at $2.29 and $2.40. The setup favors swing traders and position holders looking for a recovery play.
💡 Strategy Tagline:
"Buy the bounce, trail the breakout, ride the reversal!" 🚀📈💹
support my idea and comment down your thoughts thanks .
🟫 Strong Supply Zone: The price has bounced perfectly off a strong demand zone (labeled "strong supply zone" in the chart, but likely intended to be demand), showing buyer interest near the $2.05–$2.12 range.
📉 Recent Downtrend: XRP recently experienced a sharp decline, but the price has now touched this critical zone, suggesting a potential bullish reversal.
🔁 Potential U-Shaped Recovery: A rounded reversal pattern is indicated with the red curve, aiming for a U-shaped recovery targeting higher resistance levels.
📊 EMA 70 (2.2932): Current price is trading below the EMA, which acts as a short-term resistance. A break above it would be bullish confirmation.
📌 1st Resistance: Around $2.2932, which aligns with the EMA. This is the first challenge for bulls.
📌 2nd Resistance: Near $2.40–$2.47, a critical barrier before long-term targets.
🎯 Long-Term Target: Set near $2.63, the peak from the previous rally, aligning with major resistance.
🕯 Volume: Decent volume spike at the bounce, confirming interest from buyers.
🧠 Trade Setup: Reversal from Strong Demand Zone
📍 Entry Zone:
🔹 Enter between $2.12 – $2.15 (ideal after confirming a bounce or bullish candle above the zone)
🛡️ Stop-Loss (SL):
🔻 Place below the demand zone — $2.05
(Protects from deeper downside if support breaks)
🎯 Take Profit (TP) Targets:
TP1 – $2.29 (🟦 1st Resistance / EMA 70)
🔸 Partial profit booking here; break-even SL for the rest
TP2 – $2.40 (🟦 2nd Resistance)
🔸 Major resistance zone; expect a reaction
TP3 – $2.63 (🔴 Long-term Target / Previous High)
🔸 Full target for position holders
📊 Risk/Reward Ratio:
Approximately 1:2.5 to 1:3.5, depending on entry
🔔 Extra Notes:
📈 Watch for bullish engulfing or hammer candle confirmation before entering.
🔄 If price fails to reclaim EMA 70, re-evaluate trade.
🧠 Manage position size properly — avoid over-leverage.
🔮 Summary:
XRP is attempting a bullish reversal from a key demand zone with potential to target $2.47 and even $2.63 long term, provided it clears resistance at $2.29 and $2.40. The setup favors swing traders and position holders looking for a recovery play.
💡 Strategy Tagline:
"Buy the bounce, trail the breakout, ride the reversal!" 🚀📈💹
support my idea and comment down your thoughts thanks .
Trade active
almost 1st target reached facing little retestment here still holding
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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.
Related publications
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.