XRPUSD 📊 Technical Analysis and Trading Signal for XRPUSD by AhmadArz:
🔍 Entry Point:
Breakout Confirmation: $1.132
The breakout from the symmetrical triangle pattern on the 1-hour chart suggests a strong upward momentum, indicating the potential for a 250% profit if the trend continues as forecasted.
🛑 Stop Loss:
Level: $0.9738
Place the stop loss slightly below the breakout zone to minimize risk, ensuring that if the price reverses, losses remain controlled.
🎯 Take Profit Targets:
1️⃣ TP1: $2.200 (Initial resistance level)
2️⃣ TP2: $3.000 (Key psychological resistance)
3️⃣ TP3: $4.000 (Potential extended target for the 250% profit)
🧠 Analysis Overview:
The symmetrical triangle breakout on the XRP/USD chart signifies renewed bullish momentum in the market.
Volume Analysis: The breakout is accompanied by a sharp increase in volume, confirming the strength of the upward move.
RSI: Current RSI levels suggest room for further upside before entering overbought territory.
Trend Strength: With higher highs and higher lows forming, the trend indicates strong bullish market sentiment.
📉 Additional Notes:
Traders should monitor how XRP behaves near the $1.500 level, as this will determine whether the breakout continues.
The upward projection is based on historical support and resistance zones, coupled with a high risk-to-reward ratio.
🔗 "Discover expert trading insights with AhmadArz!
💡 Follow us on TradingView to learn more from our 5+ years of experience in the cryptocurrency market."
🚀 Don't forget to boost this idea and 💬 share your feedback below!
