Updated XRP/USDT 1H Chart Analysis – Next 24 Hours Outlook
2025-01-29
Category: None

Key Observations: 
 Rising Wedge Breakdown Risk (Bearish Bias) 

XRP is still within a rising wedge, a bearish pattern that often leads to a breakdown.
Price is testing the lower trendline, indicating a crucial decision point.

 Supply & Demand Zones: 
Supply Zone (Resistance): 3.28 - 3.13 (Price struggled to break above)
Demand Zone (Support): 3.03 - 2.88 (Price approaching this area)
Lower Demand: 2.65, a strong historical level.

 Support & Resistance Levels: 
Immediate Resistance: 3.09 - 3.13
Immediate Support: 3.03 - 3.05
Next Major Support: 2.88, aligning with demand.

 Break of Structure (BOS) & Price Action: 
There is a break of structure (BOS) to the downside, indicating potential trend reversal.
If the wedge breaks down, XRP may move lower.

 Potential Next Move (24H Forecast) 

 Bearish Scenario (Higher Probability, ~70%) 
A break below 3.03 could send XRP to 2.88
If bearish momentum continues, 2.65 (lower demand zone) becomes a possible target.

 Bullish Scenario (Lower Probability, ~30%) 
If XRP holds 3.03, a bounce back to 3.09 - 3.13 is possible.
A break above 3.13 could push toward the 3.28 supply zone.

 Final Conclusion: 
Bearish Bias – XRP is more likely to break down and test 2.88 soon. If buyers don’t step in, 2.65 is the next key level.