25.12.2024: XRP/USDT – Consolidation or Breakout?
Updated
📊🚀 What’s Next for XRP? Let’s Analyze!
Key Levels to Watch
🔼 Resistance:
$2.40 (0.786 Fibonacci): Immediate resistance. A breakout above this could target higher levels like $2.65–$2.93.
$2.93 (1.0 Fibonacci Extension): The swing high and ultimate bullish target for continuation.
$3.00: Psychological level
🔽 Support:
$2.06–$2.00 (0.618 Fibonacci): Critical and support zone. A breakdown here could start a fall towards $1.68 (0.5 Fibonacci).
$1.98 (Psychological Level): Aligns with prior rejections and forms the lower consolidation boundary.|
Current Observations
📈 Trend Overview:
Price is consolidating between 0.618 ($2.00) and 0.786 ($2.40) Fibonacci levels.
EMAs reflect indecision: Price is sandwiched between the 20 EMA (orange) and 50 EMA (blue), but 100 EMA and 200 EMA are sloping upward, indicating a bullish trend on higher timeframes.
📊 Indicators:
RSI: Neutral (~50), signaling no strong momentum yet. Watch for a breakout above 60 for bullish confirmation or below 40 for bearish momentum.
Volume: Decreasing during consolidation, signaling potential buildup for a larger move.
Trade Scenarios
💹 Bullish Setup:
Entry: On breakout above $2.40 with strong volume.
Stop-Loss: Below $2.30 (to avoid false breakouts).
Take-Profit:
First target: $2.65
Second target: $2.93
📉 Bearish Setup:
Entry: On breakdown below $2.00 (0.618 Fibonacci).
Stop-Loss: Above $2.10.
Take-Profit:
First target: $1.68 (0.5 Fibonacci).
Second target: $1.39 (0.382 Fibonacci).
Summary
XRP is currnelty consolidating. Bulls need a breakout above $2.40 for further grow to $3.00, while bears could take over, if the price breaks below $2.00.
P.s. Whales are buying XRP:
25.12.2024 - price is 2.29 and 5.07B buying.
vs 03.12.2024 - price is 2.87 and approx. 4.67B buying.
Are you bullish or bearish on XRP? Share your vision in comments ;)
Key Levels to Watch
🔼 Resistance:
$2.40 (0.786 Fibonacci): Immediate resistance. A breakout above this could target higher levels like $2.65–$2.93.
$2.93 (1.0 Fibonacci Extension): The swing high and ultimate bullish target for continuation.
$3.00: Psychological level
🔽 Support:
$2.06–$2.00 (0.618 Fibonacci): Critical and support zone. A breakdown here could start a fall towards $1.68 (0.5 Fibonacci).
$1.98 (Psychological Level): Aligns with prior rejections and forms the lower consolidation boundary.|
Current Observations
📈 Trend Overview:
Price is consolidating between 0.618 ($2.00) and 0.786 ($2.40) Fibonacci levels.
EMAs reflect indecision: Price is sandwiched between the 20 EMA (orange) and 50 EMA (blue), but 100 EMA and 200 EMA are sloping upward, indicating a bullish trend on higher timeframes.
📊 Indicators:
RSI: Neutral (~50), signaling no strong momentum yet. Watch for a breakout above 60 for bullish confirmation or below 40 for bearish momentum.
Volume: Decreasing during consolidation, signaling potential buildup for a larger move.
Trade Scenarios
💹 Bullish Setup:
Entry: On breakout above $2.40 with strong volume.
Stop-Loss: Below $2.30 (to avoid false breakouts).
Take-Profit:
First target: $2.65
Second target: $2.93
📉 Bearish Setup:
Entry: On breakdown below $2.00 (0.618 Fibonacci).
Stop-Loss: Above $2.10.
Take-Profit:
First target: $1.68 (0.5 Fibonacci).
Second target: $1.39 (0.382 Fibonacci).
Summary
XRP is currnelty consolidating. Bulls need a breakout above $2.40 for further grow to $3.00, while bears could take over, if the price breaks below $2.00.
P.s. Whales are buying XRP:
25.12.2024 - price is 2.29 and 5.07B buying.
vs 03.12.2024 - price is 2.87 and approx. 4.67B buying.
Are you bullish or bearish on XRP? Share your vision in comments ;)
Trade active
Hah, not so easy folks as I was planning, but thats even better!
Looks like XRPUSDT pair is going down, but it takes spinning turn and there are signs of reversal forming already now. Stay sharp!
Order cancelled
XRP at the moment is consolidating near critical support at $2.00.
A breakdown below could trigger bearish momentum and we will see a great fall, while a recovery above $2.10 most probably would signal bullish.
Watch for volume for confirmation of the next move.
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