XRP - My toughtsSupport and Resistance Levels
Resistance Levels:
$2.745 – $2.760 zone → Strong resistance from previous swing highs (seen multiple rejections here).
$2.87 – $2.90 → Smaller resistance, visible as a local high.
$3.10 – $3.20 → Psychological round number and a potential target if a breakout occurs.
Support Levels:
$2.12 – $2.15 → Strong support zone (also 50–61.8% Fib retracement area).
$1.95 → Key support level from the bottom of the range, previous major low.
$2.29 – $2.31 → Minor support, marked by local consolidation.
Entry Price for Long Trade (Breakout Strategy)
Aggressive Entry: Around $2.50, on confirmation of higher low and early momentum shift. (Stop loss below $2.30)
Conservative Entry: Wait for breakout above $2.75, retest and support confirmation → enter around $2.76 – $2.78.
Target 1: $2.90
Target 2: $3.10 – $3.20
Stop loss: Below $2.60 or $2.50 depending on your risk appetite.
