#xrp Trading Update by Lord MEDZGreat Things, Great Minds
Fellow traders and investors,
We stand at an exciting juncture for XRP/USDT, and the charts are revealing a compelling story for those who know where to look. Using the Smart Money Fibonacci Extension strategy, I have identified a key price target of $5.64, aligning with the 2 standard deviation from the swing high and swing low on the 1-day timeframe.
The Setup:
The swing low at approximately $0.1143 and the swing high near $1.9553 have been crucial anchors for this analysis. These levels frame the structure of the recent rally and retracement, guiding us toward precision in identifying the next major move.
The accumulation phase between 2022 and 2023 marked a textbook consolidation area, which has since broken out with strength. This breakout confirms the underlying bullish momentum.
The Path Forward:
Key Fibonacci Levels:
Current price action is consolidating around the 0.382 and 0.618 retracement levels, classic zones of reaction. This accumulation within a rising trend suggests the bulls are reloading for the next leg up.
The 2 standard deviation extension at $5.64 represents the next logical resistance zone, with a 125.58% upside from current levels.
Bullish Continuation Pattern:
The price is forming a consolidation flag (yellow box), often a precursor to a continuation of the trend. A breakout of this range would align with our target zones.
Volume Dynamics:
Volume surges during the initial breakout signal strong institutional interest, with reduced volume during consolidation—a bullish divergence that indicates the likelihood of continuation.
Risk Management and Perspective:
As always, risk management is key. While the macro trend points to higher levels, price could revisit lower Fibonacci levels for liquidity collection before the final push. My eyes are on $2.8758 and $3.7963 as interim checkpoints before reaching the ultimate target.
Final Thoughts:
The road to $5.64 is paved with technical precision and market psychology. As traders, we must trust the confluence of data, remain disciplined, and embrace the opportunities that lie ahead.
Great things come to great minds, and the XRP charts are speaking to those who listen. Let’s execute our plans wisely and ride the wave of opportunity.
Stay sharp, stay profitable.
Lord MEDZ