25.12.2024: XRP/USDT – Consolidation or Breakout?
2024-12-25
Category: None

📊🚀 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 ;)