NewsBTC

10 hour ago

0 0

BULLISH 📈 : XRP Offers Rare Risk/Reward Setup Amid Market Uncertainty

XRP Trading Analysis:

• XRP is trading around $1.6, positioned on a key weekly support band.
• This zone ($1.55 to $1.60) aligns with the midpoint of a breakout from November 2024, previously acting as resistance and now as support.
• A recent dip to $1.50 and recovery above $1.60 is interpreted by some traders as a liquidity sweep, possibly indicating either a bounce or further decline.

Historical Context

• XRP moved sideways in 2023-2024 before breaking out from $0.50 to $0.60 in November 2024, eventually reaching a peak of $3.66 in July 2025.
• Repeated unsuccessful attempts above $3.50 indicated weakening demand, contributing to the current drop to the $1.6 region.

Risk/Reward Analysis

• Analyst Scott Melker highlights this setup as having a favorable risk/reward ratio, suggesting stops between $1.45 and $1.50 to limit downside.
• Potential recovery targets include $2.00 initially, followed by $2.50–$2.60, with significant resistance near $3.00.

Market Considerations:

• Lack of volume confirmation could indicate a fragile support hold.
• Broader US market liquidity and crypto risk appetite will influence the potential for a sustained bounce.

The current XRP setup offers a defined support level, tight stop, and clear upside potential, appealing to traders seeking controlled risk and meaningful gains.