XRP has been showing strong price action across multiple timeframes, indicating bullish momentum. Here’s a detailed technical analysis of XRP’s price trends on daily, weekly, 4-hour, and 15-minute charts, along with potential entry and take-profit levels.
Daily and Weekly Analysis
On the daily chart, XRP is in a strong uptrend, supported by 92.86% of moving averages signaling bullish momentum. Key support is around $2.10, while resistance is at $2.20. A breakout above this level could push the price higher.
The weekly timeframe reflects a similar bullish sentiment, with XRP consistently holding above key support at $2.00. Resistance stands at $2.58, and a push past this level could accelerate gains.
4-Hour and 15-Minute Analysis
The 4-hour chart shows a bullish pennant formation, a continuation pattern that suggests further upside. Immediate support is near $2.15, with resistance at $2.38. A breakout from this zone could target $4.20 in the medium term.
The 15-minute chart highlights strong bullish momentum. Support is at $2.05, while resistance is near $2.36. This short-term setup indicates potential scalping opportunities for traders looking for quick gains.
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Entry, Take-Profit, and Stop-Loss Levels
Given the prevailing uptrend, an entry near $2.08 appears favorable. Traders can set take-profit targets at $2.20 (daily resistance), $2.38 (4-hour resistance), and longer-term at $4.20. A stop-loss below $2.00 can help mitigate risk.
XRP’s price action remains bullish across various timeframes, supported by strong technical indicators. While short-term traders can capitalize on volatility, long-term investors may look for breakouts above resistance levels for sustained gains. As always, risk management is crucial in crypto trading.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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