$XRP
Reclaiming the Throne? The Relief Bounce is Loading
While the bears were busy celebrating a dip to the $1.12 support floor, $XRP just printed a massive rejection wick. We are now seeing a solid candle reclaim of the short-term moving averages, signaling that the "blood in the streets" phase might be over for now.
📈 The Long Setup
Entry Zone: 1.4450 – 1.4650 (Current accumulation range)
Stop Loss (SL): 1.3200 (Safety below recent consolidation)
Leverage: Strategic (3x–5x recommended for swing stability)
🎯 Take Profit Targets
TP1: 1.5500 (Initial resistance flip)
TP2: 1.6800 (The critical "overhead" retest zone)
TP3: 1.8500 (Full momentum expansion)
🔍 Why This Move?
The Wick of Truth: The rejection at $1.117 was violent and high-volume, often a sign of "smart money" absorption.
Support Reclaim: Reclaiming the short-term MAs (Moving Averages) suggests a shift from bearish distribution to bullish accumulation.
Target 1.60: There is a liquidity gap sitting right around the 1.60 mark. Once the relief bounce gains steam, the overhead retest is a high-probability magnetic target.
Trader's Note: $XRP is currently benefiting from reduced exchange reserves and a normalization of the funding rate. The "relief" is real, but keep your SL tight to protect against broader market volatility!
Nabiha Noor
Market Analyst | Trend Spotter | Risk Manager
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