TradeCityPro | XRP : Positive News & complement Analysis👋 Welcome to TradeCity Pro! In this analysis, I want to examine the XRP coin for you. This coin is one of the oldest in the crypto world, and the most complete chart I could find was from Bitstamp. I intend to analyze this coin comprehensively across different timeframes.
📅 Weekly Timeframe: Reaching ATH After Years
In the weekly timeframe, we are observing several large and powerful weekly candles that started from the support level at $0.48111, which also coincided with the trendline bottom. This movement continued up to $2.71639, resulting in growth of more than 450%.
🔍 Previously, the price was in a range from $0.48111 to $0.73056, which was broken after nearly 18 months. After breaking through the top of the box and with an influx of buying volume and the RSI moving into overbuy territory, it even surpassed the previous bull run's peak at $1.5761 and reached the main ATH at $2.71639.
📰 This coin was one of the few that did not reach its ATH in the last bull run, mainly due to the lawsuits it faced in the United States. Despite numerous legal cases and being surrounded by negative news, this project managed to survive. In recent months, the court rulings have started to favor XRP, and it is expected that the final verdict will be issued in July 2025. From the documents available, it seems that the case will likely end in favor of XRP.
✨ Another piece of news that benefited this project and definitely influenced this pump was the unveiling and launch of the stablecoin RLUSD, which also helped to bring in volume and bullish momentum to the market and has reached a market cap of $50 million so far.
🔼 If this news continues, the price might break the resistance at $2.71639 and establish new ATHs. However, it's also possible that the price might range until July as market participants wait for both a new price structure to develop and the final legal resolution.
📊 If the resistance at $2.71639 is broken without any correction, it is currently impossible to set a target for a new ATH based on Fibonacci, but if the price creates some structure and corrects a bit, both the health of the trend would be confirmed and the next targets could be determined.
🥸 To find the next corrective areas, it would be better to go to the daily timeframe to see more details.
📅 Daily Timeframe: Beginning of Rest After the Uptrend
In this timeframe, we can draw Fibonacci retracement. As you can see, the price is ranging between $2.03599 and $2.71639, mainly giving a time correction without much price retracement compared to the trend it had.
🔽 If a price correction starts, the first area would be the 0.236 Fibonacci level, still considered a shallow correction. The main correction zones would be 0.382, 0.5, and 0.618 Fibonacci levels. The pre-existing support on our chart at $1.26887 lies between the 0.382 and 0.5 Fibonacci zones, which strengthens this area.
🔑 The RSI has exited the overbought area, and re-entering this zone could trigger another price jump. Conversely, breaking below 50 in the RSI increases the likelihood of a correction scenario. As long as the price remains above $0.73056, the trend isn’t considered finished, but if trend reversal is confirmed using Dow Theory in higher zones, we might swiftly shift our market outlook.
🚀 To establish higher targets, as mentioned, we must wait for the $2.71639 ceiling to break to determine the main correction zone and use the Fibonacci extension tool.
⏳ 4-Hour Timeframe: Futures Triggers
In this timeframe, I want to specify the futures triggers for you.
📈 For long positions, a trigger at $2.48971 seems appropriate given the overall market trend, and upon breaking this area, the first price target could be $2.77913. The main trigger would be breaking the ATH, where breaking $2.77913 could potentially lead to a new ATH.
🔽 For short positions, the first trigger at $2.26574 is very risky given the bullish trend, so be mindful of risk management. I personally prefer not to short a coin with such significant upward momentum, but if you decide to short, the next area for shorting would be below $2.01756.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
