Early Pullback Potential:
Given the overbought RSI (76.45-89.52) and recent 3% price swings, a slight pullback early in the day is plausible, especially during lower-volume pre-market hours before the New York open (8:00 AM EDT). Key support levels to watch are $3.05 (immediate support) and $2.95 (20-day EMA). A drop to $2.90-$2.95 is possible if profit-taking intensifies, as suggested by declining volume and bearish MACD signals.
Pump on New York Open: The New York market open often brings increased liquidity and institutional activity, which could trigger a price pump. XRP’s recent correlation with bullish market sentiment (Fear & Greed Index at 74, Greed) and high futures open interest ($9.25B) supports potential upside. A breakout above $3.25 could target $3.30-$3.50
Given the overbought RSI (76.45-89.52) and recent 3% price swings, a slight pullback early in the day is plausible, especially during lower-volume pre-market hours before the New York open (8:00 AM EDT). Key support levels to watch are $3.05 (immediate support) and $2.95 (20-day EMA). A drop to $2.90-$2.95 is possible if profit-taking intensifies, as suggested by declining volume and bearish MACD signals.
Pump on New York Open: The New York market open often brings increased liquidity and institutional activity, which could trigger a price pump. XRP’s recent correlation with bullish market sentiment (Fear & Greed Index at 74, Greed) and high futures open interest ($9.25B) supports potential upside. A breakout above $3.25 could target $3.30-$3.50
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We have just recieved the pullback and I am entering now!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.