XRP | Looking for All-Time Highs
📊 Market Sentiment
Overall sentiment remains bullish, supported by expectations of a 0.25% rate cut in the upcoming FOMC meeting. A weakening USD and increasing global risk appetite are creating favorable conditions for further upside in crypto assets.
📈 Technical Analysis
Price ran liquidity at $2.81 and closed above with a strong reaction.
A 4H demand zone formed after the break of structure, and price found support there.
Currently, price is moving towards the bearish trendline.
If price breaks and closes above this bearish trendline, I will be looking for long entries targeting new highs.
📌 Game Plan
I will wait for price to break and close above the bearish trendline.
Then, I will look for a retest and bounce slightly below or at the trendline before entering.
🎯 Setup Trigger
A 1H market structure shift will be my confirmation for entry.
📋 Trade Management
Stoploss: 1H swing low confirming the BOS
Targets: TP1: $3.14 | TP2: $3.38
💬 Like, follow, and comment if you find this setup valuable!
⚠️ Disclaimer: This content is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Always do your own research before making any financial decisions.
📊 Market Sentiment
Overall sentiment remains bullish, supported by expectations of a 0.25% rate cut in the upcoming FOMC meeting. A weakening USD and increasing global risk appetite are creating favorable conditions for further upside in crypto assets.
📈 Technical Analysis
Price ran liquidity at $2.81 and closed above with a strong reaction.
A 4H demand zone formed after the break of structure, and price found support there.
Currently, price is moving towards the bearish trendline.
If price breaks and closes above this bearish trendline, I will be looking for long entries targeting new highs.
📌 Game Plan
I will wait for price to break and close above the bearish trendline.
Then, I will look for a retest and bounce slightly below or at the trendline before entering.
🎯 Setup Trigger
A 1H market structure shift will be my confirmation for entry.
📋 Trade Management
Stoploss: 1H swing low confirming the BOS
Targets: TP1: $3.14 | TP2: $3.38
💬 Like, follow, and comment if you find this setup valuable!
⚠️ Disclaimer: This content is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Always do your own research before making any financial decisions.
Order cancelled
Price failed to break the bearish trendline, therefore the trade idea is cancelled. See the new plan on my profile.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.