🚀 UPDATE XRP: Rebound from "New Bottom", Time to Accumulate?
Hello trader friends! AltcoinRadarID is back with hot updates from the XRP/USDT chart. After a tough drop, it seems there is new breath for the holders. Let's break it down!
🔍 Current Market Conditions
XRP has just shown an interesting price action after touching a new low of 1.7043. Currently, the price is trying to crawl up and is around 1.7675.
📊 Short-Term Technical Analysis
Support Confirmation: The level of 1.7043 has proven to be a strong "buy wall" area, triggering a price rebound.
RSI Momentum: On the 1H timeframe, the RSI has risen to 42.03, exiting the extreme oversold zone. This is a signal that buying power is starting to come in!
MACD Indicator: The MACD histogram shows a positive number of 0.0039, indicating gradual accumulation.
🚧 Obstacles & Targets (Resistance)
Although there are recovery signals, XRP must pass through several important "fortresses":
Target 1: 1.8064 (MA10 on the 4H timeframe).
Target 2: 1.8579 (MA20 on the 4H timeframe).
Main Resistance: 1.8576 on the daily timeframe (1D) remains a determinant of whether the major bearish trend will end.
💡 Trading Plan AltcoinRadarID
Entry Area: 1.7600 – 1.7675.
Take Profit: Gradually at 1.8064 and 1.8579.
Stop Loss: Below 1.6980 (anticipate if the price breaks the new low).
Conclusion:
$XRP is in the Technical Rebound phase. If it can hold above the level of 1.7500, the opportunity to reach 1.8000+ is wide open. However, remain disciplined with Stop Loss as the daily trend is still quite heavy!
What do you think? XRP to $2 again or still want a discount? Comment below! 👇
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