XRP has completed a 5-wave impulse move. As expected, XRP is now in a corrective phase, pulling back after rejecting from a key resistance — and it’s doing so with technical precision.
The question now: where is the next high-probability long setup? Let’s break it down.
🧠 Market Structure & Key Zones
Using Fibonacci retracement from the base of the 5-wave impulse, we now have a potential golden pocket target aligned with major confluence.
🔽 Support Zone
🔹 0.618 Fib retracement: $2.2982
🔹 Daily Bullish Order Block: $2.2949
🔹 Daily 21 EMA: $2.329
🔹 Daily 21 SMA: $2.301
🔹 Liquidity pool
🔹 0.786 Fib Speed Fan (only if price drops between May 17–18)
This creates a high-confluence support cluster at ~$2.3 — a prime candidate for a long re-entry.
🟢 Long Trade Setup
🔴 Short Setup (Conditional)
Shorts only valid if a clear rejection or SFP pattern emerges. If momentum is strong, this level may break — so wait for structure to confirm.
📘 Educational Insight: Why Confluence Matters
Too often, traders chase single-indicator signals. But real edge comes from confluence — when multiple tools (Fibs, MAs, Order Blocks, Liquidity, VWAPs, FVG, Speed Fans etc.) agree on the same zone. This alignment not only increases confidence in your entry, but also sharpens your risk management.
Think of it as building a case — the more aligned evidence you have, the stronger your trade thesis becomes.
📌 Summary
Precision isn’t about predicting — it’s about being ready when the chart speaks with clarity. Patience makes probability powerful.
___________________________________
If you found this helpful, leave a like and comment below! Got requests for the next technical analysis? Let me know.
The question now: where is the next high-probability long setup? Let’s break it down.
🧠 Market Structure & Key Zones
Using Fibonacci retracement from the base of the 5-wave impulse, we now have a potential golden pocket target aligned with major confluence.
🔽 Support Zone
🔹 0.618 Fib retracement: $2.2982
🔹 Daily Bullish Order Block: $2.2949
🔹 Daily 21 EMA: $2.329
🔹 Daily 21 SMA: $2.301
🔹 Liquidity pool
🔹 0.786 Fib Speed Fan (only if price drops between May 17–18)
This creates a high-confluence support cluster at ~$2.3 — a prime candidate for a long re-entry.
🟢 Long Trade Setup
- Entry: Ladder between $2.32 and $2.28
- Stop-loss: ~$2.21
- Target: $2.7175 (0.618 Fib retracement of the corrective downtrend)
- R:R: ~5:1
🔴 Short Setup (Conditional)
- Trigger: Rejection at $2.7175
- Entry: ~$2.7175
- Stop-loss: Above $2.8033 (0.666 Fib) → set at ~$2.811
- Take Profit: ~$2.56 or lower
- R:R: ~2:1+ (dependent on entry confirmation and PA behaviour)
Shorts only valid if a clear rejection or SFP pattern emerges. If momentum is strong, this level may break — so wait for structure to confirm.
📘 Educational Insight: Why Confluence Matters
Too often, traders chase single-indicator signals. But real edge comes from confluence — when multiple tools (Fibs, MAs, Order Blocks, Liquidity, VWAPs, FVG, Speed Fans etc.) agree on the same zone. This alignment not only increases confidence in your entry, but also sharpens your risk management.
Think of it as building a case — the more aligned evidence you have, the stronger your trade thesis becomes.
📌 Summary
- XRP is in a corrective phase after a 5-wave impulse
- Clean rejection from weekly resistance → continuation of bearish trend
- Long zone: ~$2.3
- SL: ~$2.21 | TP: $2.7175 | R:R ~5:1
- Optional short: $2.7175 rejection → SL $2.811 | TP $2.56
Precision isn’t about predicting — it’s about being ready when the chart speaks with clarity. Patience makes probability powerful.
___________________________________
If you found this helpful, leave a like and comment below! Got requests for the next technical analysis? Let me know.
Note
Clean bounce off the 0.618 Fib level:Note
Price respected the 0.618 Fib beautifully. Now aiming for the 0.618 target at $2.7175: Note
XRP swept the low with a clean SFP, trade setup still intact:Note
🚨 XRP Update – May 22XRP is playing out beautifully so far! Delivering clean structure and respecting key levels.
✅ Just swept the swing high at $2.4497 and printed a SFP. A great signal for short-term rejection and a classic example of a short trigger.
✅ On the bullish side:
XRP previously bounced perfectly from the golden pocket zone between:
- 0.618 Fib: $2.2982
- 0.666 Fib: $2.2705
Also currently trading above both:
- 21 Daily EMA: $2.356
- 21 Daily SMA: $2.3459
🎯 Target for the long setup remains the 0.618 Fib retracement at $2.7175.
📌 Key Level to Flip:
$2.4497 swing high (now resistance). A confirmed flip into support would strengthen the case for continuation toward the target.
XRP is following the plan. Now it’s all about watching the reaction around $2.45. Let’s see if bulls can reclaim it and push higher 🔍📈
Note
🚨 XRP Quick Update – 23 MayXRP continues to lag behind the rest. Volume remains very low, so caution is advised. For now, it’s just bouncing within the range at the weekly level around $2.44.
Trade closed manually
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🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
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.