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XRP / USDT
Long

XRP/USDT Analysis: Accumulation in Progress?

By BulldogNL
XRP/USDT Analysis: Accumulation in Progress?

  1. Current price: $2.45, pulling back from the recent high of $2.60.
  2. Support and resistance:
  3. Key support: $2.34 – holding strong during recent dips.
  4. Resistance: $2.52 – acting as a ceiling for further upside.
  5. Chart observations:
  6. Formation of an equilibrium pattern, indicating potential accumulation at current levels.
  7. Recent volatility is stabilizing, which could pave the way for the next directional move.
  8. Trade setup:
  9. Rated 7/10 for longs above $2.47.
  10. Suggested stop-loss: Below $2.34 to manage risk.
  11. Target levels: Initial resistance at $2.52, with potential for continuation higher if momentum builds.
  12. Volume profile: Indicates steady buyer interest at current levels, hinting at a possible leg up for patient traders.

What’s your outlook on this setup? Share your ideas below! 🚀📈
Chart PatternsTechnical IndicatorsTrend AnalysisXRPUSDT
BulldogNL

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