🚨 XRP/USDT Update - Hourly Technical Analysis 🚨

Key Indicators:

EMA(20), EMA(50), EMA(100), EMA(200)

Volume: To measure the strength of the buy/sell trend.

🔎 Chart Pattern Analysis:

Paused Uptrend: XRP/USDT was in a fairly strong uptrend, but now there is a sharp decline that could be a sign of a correction or trend reversal.

Bearish Engulfing: The last candlestick pattern shows a bearish engulfing, which usually indicates a potential for further price declines.

📉 Next Candlestick Prediction:

With a bearish engulfing pattern, it is likely that the price will continue the bearish trend, perhaps a bearish continuation pattern such as a bearish harami or bearish marubozu will form.

🔧 Support and Resistance:

Support:

2.2500 (near EMA(200), below current price)

2.1580 (historical support and psychological level)

Resistance:

2.3664 (current price)

2.5090 (near EMA(100), above current price)

💡 Scalping Strategy with $100 Capital:

Sell Target:

With $100 capital, you can start scalping with the first target around 2.3000 (slightly below the current price). If the price breaks the first support, the second target could be around 2.2500.

At a price of 2.3000, for example, you can buy 43.47 XRP (100 ÷ 2.3000). If the price drops to 2.2500, you can sell again for a profit of around $2.17 (43.47 XRP × (2.3000 - 2.2500)).

Stop Loss:

To protect your capital, place a stop loss slightly above the first resistance, for example at 2.3700. If the price rises to 2.3700, you will be stopped out, preventing further losses. In this case, the stop loss will limit your losses to around $3.21 (43.47 XRP × (2.3700 - 2.3000)).

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