Analysis of XRP,$XRP seeing a potential bullish continuation after a strong rejection and liquidity grab around 1.342. Here's a summary of your trade setup:
Market Conditions:
- Downtrend has paused, with a notable liquidity sweep at 1.342.
- Strong buying pressure observed, evidenced by aggressive green candles and higher lows.
- Selling pressure is weakening as price reclaims 1.37–1.38.
Trade Setup:
- Entry Point: 1.365 – 1.385 on a pullback.
- Target Points:
- TP1: 1.405
- TP2: 1.420
- TP3: 1.450
- Stop Loss: 1.335, below the recent sweep low.
Rationale:
- A stop hunt at 1.342 resulted in strong upward movement, suggesting a structure shift.
- Buyers are defending higher lows, indicating potential for further upside toward previous supply levels around 1.42+.
- The risk/reward ratio favors a bullish position while the price remains above 1.36.
It's crucial to monitor the market for any changes that could affect this setup. Always ensure risk management practices are in place.
