XRP is at a critical phase, with key resistance and support levels dictating its future price action.
Monthly and Weekly Outlook
On the monthly chart, XRP is trapped in a consolidation range between $2.00 and $2.20. A break above $2.20 could trigger a move to $2.50, while a drop below $2.00 might press the price to $1.80 support. On the weekly chart, XRP holds above $2.02, key for maintaining upward momentum. Resistance at $2.94 remains the next hurdle.
Daily Chart Analysis
The daily chart shows a bearish head-and-shoulders pattern, with the neckline at $2.00. A breakdown below this level could lead to a decline to $1.50. Technical indicators like RSI and MACD also suggest weakening bullish momentum, reinforcing the downside risk.
Trade Setups: Entry, Take-Profit, and Stop-Loss
Ideal entry is around $2.00, aligning with strong support. Take-profit levels are $2.20, $2.50, and $2.94 for potential bullish targets. A stop-loss should be placed just below $1.90 to manage downside risk.
XRP is at a crucial juncture, with further movement dependent on overcoming key resistance and support levels.
