XRP High Position Pullback, Short-term Support and Trading Strategy Analysis

Market Analysis

The current XRP price is $2.3648, and the 4-hour chart shows signs of a high position pullback:

1. Moving Average Performance: MA7 ($2.3948) is turning downward, short-term pressure; MA25 ($2.4020) is close to the price, providing short-term support; MA99 ($2.2440) is trending upward, and the long-term bullish trend is still continuing.

2. MACD Indicator: The green momentum bar is expanding, and DIF is crossing below DEA, indicating that bearish strength is gradually increasing.

3. Trading Volume: Volume is decreasing, bullish momentum is insufficient, and the market may enter a phase of consolidation and pullback.

Key Levels

• Support Level: $2.3500 (short-term support), $2.2500 (strong support)

• Resistance Level: $2.4000 (upper pressure), $2.4600 (key breakout point)

Trading Suggestions

1. Long Strategy:

• Entry Point: $2.3500-$2.3600

• Stop Loss Point: $2.3000

• Target Level: $2.4000, $2.4600

2. Short Strategy:

• Entry Point: $2.4000-$2.4200

• Stop Loss Point: $2.4600

• Target Level: $2.3600, $2.3000

Direction Forecast

In the short term, it may continue to test the $2.3500 support; if it stabilizes, it is expected to rebound to $2.4000; if it breaks below $2.3000, it will enter a deeper pullback range.

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