XRP Analysis and Trading Plan for 2024 📊

4 янв.

Hello TradingView Family / Fellow Traders,

On Daily: Left Chart
XRP has been hovering inside a significant range between 0.55 and 0.75, and it is currently retesting the lower bound of the range.

Moreover, it is approaching the lower red trendline of the channel that XRP has been respecting for a couple of weeks now.

🏹 Hence, XRP is situated around a strong area to look for buy setups as it is the intersection of the blue support and the lower red trendline.

Thus, we will be looking for buy setups on lower timeframes as long as the 0.54 support holds.

On H4: Right Chart
📈 For the bulls to take over in the short term, we need a momentum candle close above the last minor high in green at 0.592.

And then, for the bulls to remain in control from a medium-term perspective, we need a break above the last major high in red around 0.66.

📉 Meanwhile, until the bulls take over, XRP would be bearish, and if the 0.54 support is broken downward, we can expect a bearish continuation towards the 0.45 - 0.5 weekly support zone.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr