XRPUSDT Weekly Chart Analysis | Major Resistance Levels Align for Next Bullish Move
🔍 Let’s break down the XRP/USDT weekly setup, highlighting key technical signals and major upside targets for the next rally.
⏳ Weekly Overview
The weekly chart shows consolidation just below a major resistance, with price action tightening and preparing for a breakout. A recent correction found support near the 0.382 Fibonacci retracement level, which has acted as a springboard for renewed momentum. Notably, the R2 pivot point level aligns closely with this area, strengthening its importance as a decision zone for bulls.
🔺 Upside Targets & Confluences:
- First Target: $4.63 — This coincides with the R2 monthly pivot point and aligns with key Fibonacci extension targets, offering strong confluence for a reaction zone.
- Second Target: $5.90 — Our most realistic medium-term target, also backed by cluster resistance from both pivot analysis and fib projections.
- Final Target: $7.80 — This is the major Fibonacci extension level, marking the highest projected upside if momentum persists.
📊 Key Technical Highlights:
- Pivot Point R2 & Fibonacci Confluence: The R2 level reinforces a critical resistance, overlapping with the $4.63 Fibonacci target.
- Fibonacci Retracement: Price respected the 0.382 retracement during the latest correction, signaling healthy trend continuation.
- Volume Confirmation: An uptick in volume confirms that buyers are stepping in, supporting the bullish momentum.
- RSI Signal: RSI is entering the overbought zone, which typically indicates a strong surge in buying pressure and can mark the start of a momentum move.
🚨 Conclusion:
XRP is setting up for a major breakout as key technical levels align. Watch for a sustained move above $4.63 to unlock the $5.90 area, with a final potential push towards $7.80 if bulls maintain control. Volume expansion and an overheated RSI are both classic signs of an incoming momentum wave—keep your eyes on these levels for validation of the setup.
🔍 Let’s break down the XRP/USDT weekly setup, highlighting key technical signals and major upside targets for the next rally.
⏳ Weekly Overview
The weekly chart shows consolidation just below a major resistance, with price action tightening and preparing for a breakout. A recent correction found support near the 0.382 Fibonacci retracement level, which has acted as a springboard for renewed momentum. Notably, the R2 pivot point level aligns closely with this area, strengthening its importance as a decision zone for bulls.
🔺 Upside Targets & Confluences:
- First Target: $4.63 — This coincides with the R2 monthly pivot point and aligns with key Fibonacci extension targets, offering strong confluence for a reaction zone.
- Second Target: $5.90 — Our most realistic medium-term target, also backed by cluster resistance from both pivot analysis and fib projections.
- Final Target: $7.80 — This is the major Fibonacci extension level, marking the highest projected upside if momentum persists.
📊 Key Technical Highlights:
- Pivot Point R2 & Fibonacci Confluence: The R2 level reinforces a critical resistance, overlapping with the $4.63 Fibonacci target.
- Fibonacci Retracement: Price respected the 0.382 retracement during the latest correction, signaling healthy trend continuation.
- Volume Confirmation: An uptick in volume confirms that buyers are stepping in, supporting the bullish momentum.
- RSI Signal: RSI is entering the overbought zone, which typically indicates a strong surge in buying pressure and can mark the start of a momentum move.
🚨 Conclusion:
XRP is setting up for a major breakout as key technical levels align. Watch for a sustained move above $4.63 to unlock the $5.90 area, with a final potential push towards $7.80 if bulls maintain control. Volume expansion and an overheated RSI are both classic signs of an incoming momentum wave—keep your eyes on these levels for validation of the setup.
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.
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.