From the 4-hour chart, XRP is currently quoted at 2.2380, and the price is above the key support area of 2.20-2.25. Yesterday's price rebound was weak and it is still in a volatile and weak pattern.
1. Moving average system
MA7 (2.2025): The short-term moving average begins to turn upward, indicating that bulls are attempting a short-term counterattack.
MA30 (2.2463): The medium-term moving average continues to move lower, indicating strong pressure from above.
MA100 (2.3687): Long-term moving average suppression shows that the overall trend is still bearish.
2. K-line pattern
After the price fell sharply from the high of 2.9160, it formed a volatile consolidation in the 2.20-2.30 range, indicating a temporary balance between bulls and bears.
The lower shadow shows that there is buying support at 2.20, but there is a lack of obvious momentum for large-scale increases.
3. Technical indicators
RSI: Around 45, indicating that the market is weak, but there is a certain potential for rebound.
MACD: The fast line and slow line gradually approach the zero axis, the green column shortens, and the short momentum weakens.
4. Volume Analysis
Yesterday's trading volume was low and the market sentiment was light. If there is a large volume today, you can pay attention to the breakthrough direction of the price.
Today's operation suggestions
Direction: Low-to-long, beware of shock callbacks
Opening position: 2.2300-2.2400 (light long position in the support area)
First stop profit level: 2.2700 (short-term pressure level)
Second stop profit level: 2.3000 (important resistance range)
Stop loss: 2.2000 (stop loss if it falls below the key support level)
Yesterday's situation: XRP fluctuated and consolidated in the range of 2.20-2.25. It failed to break through 2.20 after probing it several times, indicating that the support was effective, but the rebound was not strong enough.
Today's forecast: If the price holds 2.2300 and breaks through 2.2463 (MA30), it is expected to test 2.2700 in the short term, or even further up to 2.3000. However, if it falls below 2.2000, it may further fall to the 2.1800-2.1500 support area.
Support level selection: 2.2000 is the recent key support area. If it fails, it will open up downward space. 2.2300 is the current short-term support and is suitable as an opening position.
Pressure level selection: The short-term pressure of 2.2700 is the previous oscillation high point. After breaking through, it will further test 2.3000. 2.3000 is the area where the long-term moving average MA100 is located, and the pressure is relatively large.
Possibility of consolidation: If the trading volume continues to be sluggish, the price may continue to consolidate in the range of 2.2000-2.3000.
Upward pressure risk: The pressure in the 2.2700-2.3000 area is heavy, and a breakthrough requires the support of trading volume.
Risk of pullback: If it falls below 2.2000, bears may exert further force and positions need to be controlled carefully.
External news risk: Market news may lead to increased short-term price volatility.
XRP is currently near key support and may rebound in the short term, but we need to pay attention to trading volume and price breakthroughs. It is recommended to test long orders with a light position and strictly implement stop-profit and stop-loss to prevent risks brought by market uncertainty.
