XRP/USDT Long Setup – 2H Chart (BINANCE)
Published: May 19, 2025
Trade Idea:
This is a bullish continuation setup on XRP/USDT based on a confluence of support zones and trendline structure. Price is currently reacting to a key horizontal support level (around $2.36), which aligns with a long-term ascending trendline that has held since early April.
Key Technical Elements:
Support Zone: A clear horizontal demand zone between $2.26 and $2.37, where price previously consolidated and broke out from. Price has returned to this zone, suggesting a potential retest.
Ascending Trendline: The market has consistently formed higher lows since April, creating a strong bullish trendline acting as dynamic support.
Bullish Rejection: The recent candles show a bounce off both the trendline and the demand zone, indicating buyer interest.
Risk-Reward Ratio: The setup suggests a favorable risk-reward ratio.
Entry: Around $2.36
Stop Loss: Below the demand zone at approximately $2.26
Take Profit: Above $2.60, aligning with previous highs
Bias: Bullish
As long as price holds above the $2.26-$2.36 support and trendline, the bullish structure remains intact.
Confirmation Needed:
A strong bullish candle close above the resistance at $2.37 would confirm the continuation of the upward trend and increase the probability of hitting the target.
Published: May 19, 2025
Trade Idea:
This is a bullish continuation setup on XRP/USDT based on a confluence of support zones and trendline structure. Price is currently reacting to a key horizontal support level (around $2.36), which aligns with a long-term ascending trendline that has held since early April.
Key Technical Elements:
Support Zone: A clear horizontal demand zone between $2.26 and $2.37, where price previously consolidated and broke out from. Price has returned to this zone, suggesting a potential retest.
Ascending Trendline: The market has consistently formed higher lows since April, creating a strong bullish trendline acting as dynamic support.
Bullish Rejection: The recent candles show a bounce off both the trendline and the demand zone, indicating buyer interest.
Risk-Reward Ratio: The setup suggests a favorable risk-reward ratio.
Entry: Around $2.36
Stop Loss: Below the demand zone at approximately $2.26
Take Profit: Above $2.60, aligning with previous highs
Bias: Bullish
As long as price holds above the $2.26-$2.36 support and trendline, the bullish structure remains intact.
Confirmation Needed:
A strong bullish candle close above the resistance at $2.37 would confirm the continuation of the upward trend and increase the probability of hitting the target.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.