🔍 $XRP: Can Support Hold the Channel Bottom?
Market trends often test our patience, and right now, $XRP is testing a major structural zone. While trading within a long-term descending channel, the price is currently sitting near a critical support area where historically, interest has returned.
The Technical Setup:
We are observing a "wait and see" moment at these levels:
Support Focus: 1.65 – 1.80 area. This is where demand has previously balanced supply.
Resistance Targets: Potential recovery zones at 1.97, 2.36, and 2.83 if momentum shifts.
A Balanced Approach:
In line with halal trading principles, we focus on risk-sharing and avoiding excessive speculation:
No Guarantees: Markets are unpredictable; a break below support increases downside risk.
Ownership Matters: Focus on Spot Trading rather than high-leverage derivatives to remain within ethical frameworks.
DYOR: Always verify data for yourself.
Will this support act as a springboard or a trap? Manage your risk wisely.
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