XRP/USDT Latest UpdateXRP/USDT Latest Update
As shared in my previous idea, XRP has already seen a 12% increase from the levels mentioned. However, for the short-term outlook over the next few days, I expect XRP to potentially drop below the 2.40 level.
Please note, this is not financial advice. Always do your own research (DYOR).
Good luck with your trades!
XRPBULLUSDT trade ideas
XRP Flag Setup XRP price broke out of the flags descending channel hitting a high of 2.72 .
This high coincides with the 0.786 fib resistance level as well as the supply zone between 2.55 - 2.6490.
I'm expecting bears to push the price back down to the 50% level at 2.1 from here before triggering the long entry to 3.5 .
Ripple's RLUSD Launch: A Catalyst for XRP's AscentRipple has launched its stablecoin, RLUSD, which has immediately spurred a notable increase in XRP's price. This launch not only marks Ripple's strategic expansion into the stablecoin arena but also positions XRP for potential new highs, catalyzed by both technical and fundamental advancements.
Fundamental Impact:
RLUSD's Design and Utility: RLUSD is designed to be fully backed by US dollar deposits, US government bonds, and other cash equivalents, ensuring stability akin to traditional currency. Monthly third-party audits further enhance its credibility and transparency, making it a trusted bridge between fiat and crypto. Its multi-chain support allows for broader adoption and integration, particularly in cross-border payments and DeFi applications. This aligns with Ripple's vision to improve the efficiency of global financial transactions, thereby directly benefiting the XRP ecosystem.
Enhancing XRP's Ecosystem: The introduction of RLUSD is seen as a vote of confidence in CRYPTOCAP:XRP and the XRP Ledger (XRPL). By providing a stablecoin that complements CRYPTOCAP:XRP , Ripple aims to increase the liquidity and utility of CRYPTOCAP:XRP , potentially attracting more institutional investors wary of cryptocurrency volatility. The stablecoin's launch is expected to integrate more seamlessly into Ripple's existing payment solutions, enhancing both the XRP Ledger's utility and Ripple's service offerings.
Regulatory Approval: RLUSD has received approval from the New York Department of Financial Services (NYDFS), adding a layer of regulatory compliance that could further legitimize Ripple's operations and XRP's use in broader financial systems. This approval is pivotal for Ripple's expansion in the regulated US market, a move that could set a precedent for other stablecoins.
Technical Analysis
Price Movement: Following the announcement and launch of RLUSD, CRYPTOCAP:XRP has seen a significant uptick, with its price jumping to $2.66, marking a 12.61% increase in the last 24 hours. This surge has pushed XRP past critical resistance levels, breaking a wedge pattern and setting sights on $2.65 and $2.91 as the next possible resistances. The high trading volume accompanying this price rise, up by over 100%, reflects strong market interest and confidence in XRP's direction.
Overbought Conditions: The Relative Strength Index (RSI) for$ XRP currently stands at 82, indicating an overbought market which suggests caution for short-term traders. However, for long-term holders, this surge from $0.69 to $2.698 in just two months underscores a robust bull market trend, potentially fuelled further by the RLUSD launch.
The technical outlook, with the RLUSD news acting as a catalyst, suggests a trajectory towards $5 before Christmas, fueled by both the intrinsic value of the XRP Ledger and the new stablecoin's impact.
Conclusion
Ripple's strategic introduction of RLUSD is not just a step towards diversifying its offerings but a significant leap in enhancing the XRP ecosystem's robustness and utility. From a fundamental standpoint, RLUSD offers stability and regulatory compliance, which are pivotal for mainstream adoption in financial services.
Technically, the stablecoin's launch has propelled XRP's value, with market indicators suggesting continued growth. As Ripple continues to navigate the complexities of crypto-finance integration, RLUSD and XRP together are poised to redefine how digital assets can be leveraged for global payments, potentially setting new benchmarks in the crypto industry before the year's end.
XRP/USDT (XRP)📈 Buy Signal for XRP/USDT
✅ Suggestion: You can buy now as this asset is expected to grow.
🎯 Target Levels: The labeled price targets will be achieved.
📊 Minimum Growth: I anticipate at least a 10% increase in the spot market. 🚀
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1️⃣ Follow my TradingView page 📊
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XRPUSDT Bullish Flag Pattern!XRPUSDT Technical analysis update
The BINANCE:XRPUSDT price has formed a bullish flag pattern on the 4-hour chart, with the previous resistance at 1.95 now acting as support. Following the breakout, the retest of 1.95 has been completed, and the 100 EMA serves as support for the flag pattern. A strong bullish move in XRP can be expected in the coming days.
Cautious Moment - Leaning Bearish Based on the WeeklyThe weekly chart is showing signs of caution, with the most recent weekly candle closing as a 'Hangman' candlestick. This pattern is often associated with the potential end of an uptrend and the beginning of a correction. Supporting my bearish sentiment:
The Weekly Chart
The RSI (Relative Strength Index) is extremely overbought at 85.25, a level that typically signals an overstretched market.
The Stochastic RSI is also in overbought territory, with the K line crossing below the D line, marking a bearish reversal signal.
While an overbought RSI doesn't necessarily indicate an imminent dump, it does serve as a cautionary marker that a possible correction may be on the horizon. The Stochastic RSI, however, strengthens the bearish bias by indicating slowing momentum—a signal that aligns with observations on the daily chart.
The Daily Chart
On the daily timeframe, the price has corrected from the recent high of $2.94, marking what I believe to be the end of Wave 1. The current correction appears to be a Wave 2 correction forming within a descending channel. Here are the key observations:
The last 7 daily candles have been either 'Spinning Tops' or 'High Wave' candlesticks. Both patterns are indicative of market indecision, with low momentum clearly slowing.
The RSI and Stochastic RSI on the daily chart also reflect this flat momentum, further signaling the market's lack of direction.
Elliott Wave Context - Wave 2 Correction
Referencing Bennett McDowell’s 'Elliott Wave Techniques Simplified':
15% of Wave 2 corrections retrace between 23.6% and 38.2% of the Fibonacci levels.
70% of Wave 2 corrections typically retrace between 38.2% and 61.8%.
So far, XRP has corrected slightly past the 38.2% Fibonacci level, suggesting that the Wave 2 correction could still be in progress. Based on historical patterns and current price action, I believe a deeper correction toward the 61.8% Fibonacci retracement level at $1.40 remains a strong possibility.
Summary & Strategy
This is a highly cautious area for XRP:
I am not currently in the market and would only consider entering if there is a clear breakout above the descending channel, supported by volume.
Even then, I would wait for a backtest of the channel to confirm the breakout is not a fake-out before entering a long position.
However, given the current chart signals, I anticipate that XRP could correct all the way to the 61.8% Fibonacci level at $1.40. I don’t expect this correction to be clear-cut or quick; rather, it could evolve into a 'Complex Correction', with price chopping around before ultimately completing the retracement at the 61.8% level.
XRP FVG analysis on the daily chartokay so anyone that is currently holding XRP what i think is the best, is to exit at around $2.55-$2.60 if greedy than $2.63 and after wait for it to hit the first FVG at $1.54-$1.76 go in for how much you like, but the chances are that it is gonna go trough it and go all the way to $1.14-$1.25 if not then exit at $2.10 and wait for it to hit the second target! have a nice evening guys.
XRP/ USDT: Poised for breakout above trendline resistance XRP/USDT: Poised for a Breakout Above Trendline Resistance
XRP/USDT is setting up for an exciting move 📈 as it edges closer to a critical trendline resistance zone 📊. The price has been consolidating tightly, creating an ideal scenario for a potential breakout 💥. If the breakout occurs, we could witness a strong bullish rally unfold 🚀. Stay vigilant 👀 and wait for confirmation before entering a position.
Key Insights:
1. Trendline Resistance: XRP/USDT is nearing a significant trendline that has acted as a barrier in the past. A break above this level could trigger a strong upward movement.
2. Volume Surge: Monitor trading volume during the breakout. A significant spike can confirm strong buyer momentum 🔥.
3. Bullish Indicators: Momentum indicators like RSI and MACD are currently trending positively ⚡, supporting the potential for a bullish breakout.
Steps to Confirm the Breakout:
Look for a clear 4H or daily candle close above the trendline 📍.
A notable increase in volume during the breakout is crucial to validate buying pressure 📊.
A successful retest of the broken trendline as a new support zone strengthens the breakout's credibility ✅.
Be cautious of fake breakouts, including sharp reversals or wicks above the trendline ⚠️.
Risk Management Strategies:
Implement stop-loss orders to protect your capital 🔒.
Ensure position sizing is consistent with your trading plan 🎯.
This analysis is for educational purposes only and not financial advice. Always do your own research (DYOR) 🔍 before making investment decisions.
ripple xrp usdt daily analyze
time frame hourly
risk rewards ratio >2
my last ripple analyze reached the target and 350% benefit
this analyses is base on good news and fundamentally and price action too.
look at the chart. xrp move up an down in triangle area when is raging and after save energy pumps to new target.
good news about ripple and market sentiment help it to pump early