Hello trader friends! XRP is experiencing significant selling pressure in the last few hours. Let's break down the technical data:
📊 Technical Analysis (TF 1H & 4H):
Price Action: $XRP has just "plunged" from the 1.94 area and is currently held at the 1.8090 level.
Support Alert: The price briefly touched the 1.7865 level, which is now a crucial level to maintain.
RSI Extreme: On the 1-hour timeframe, the RSI is at level 23.07, indicating an Extreme Oversold condition that usually triggers a technical rebound.
MACD & Volume: Bearish momentum is still strong with a thickening red histogram and a significant spike in selling volume.
🎯 Target Profit (TP) Prediction & Setup:
If you plan to do scalping or look for price bounces, here are the levels to watch:
Entry Area: 1.7865 - 1.8100 (Confirming the bounce at support).
TP 1 (Conservative): 1.8372 (Targeting the MA 5 area on the 1-hour timeframe).
TP 2 (Moderate): 1.8570 (MA 10 area which is the next dynamic resistance).
TP 3 (Optimistic): 1.8754 (MA 20 area if a short-term trend reversal occurs).
Stop Loss (SL): Below 1.7780 (To limit risk if the price breaks the lowest support).
📉 Conclusion:
XRP is currently at a 'discount' price according to the RSI indicator. However, remain cautious as the price is still below all major Moving Average lines. Make sure not to go all-in and maintain strict risk management!
What do you think? Scoop now for a bounce or wait below again? Write in the comments! 👇
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