XRP - Key Levels to Watch

1月26日

XRP recently broke its all-time high (ATH) from 2018, touching $3.317. This key resistance was fiercely defended by bears, offering a strong short opportunity on the first break. Now, after consolidating for over 10 days, let’s dive deeper into the key levels and confluences to plan trades.

Resistance Levels

All-Time High (ATH) - $3.317
Key resistance from the recent ATH breakout, strongly defended by bears

Support Levels and Confluence

1. Fibonacci Retracement: 0.618 retracement of the recent impulse wave aligns at $2.74078
   
2. Weekly Level: A strong weekly level at $2.75 provides further support
   
3. Daily Level: The daily level at $2.72763 lies within the support zone
   
4. Swing High from the Previous Trading Range: The December 2024 swing high at $2.725 adds more confluence
   
5. Volume Profile (VAH): Value Area High (VAH) of the previous trading range aligns with the support zone
   
6. Fibonacci Speed Fan: The 0.618 speed fan intersects at $2.7, depending on the timing (late January to early February)
   
7. Pitchfork: While not plotted, it aligns closely with this zone, further supporting the level
   

Support Zone: $2.75-$2.71

Short Trade Setup

The first short opportunity arose at the ATH of $3.317, providing an excellent risk-to-reward ratio. If missed, another short trade setup can still be executed at the current price:

• Entry: Enter at the current price
  

• Stop Loss: Above $3.29
  

• Take Profit: $2.80
  

• Risk-to-Reward (R:R): 2:1
  

Long Trade Setup

• Entry: Ladder longs between $2.75 and $2.71
  

• Stop Loss: Below $2.63
  

• Take Profit: $2.95
  

• Risk-to-Reward (R:R): 3:1 or better
  

1月27日

交易結束：目標達成