Analysis of XRP ✅😉

◽️ Chart 1 (XRP/USDT)

• Overall Trend: The overall trend is bearish with the formation of lower highs and lower lows.

• Resistance and Support:

• Major resistance at $0.75.

• Strong support at $0.3823.

• Key Points:

• Lower High (LH): Indicates the continuation of the bearish trend.

• Higher Low (HL) and Lower Low (LL): Indicate continued downtrend with some bounces.

• Stochastic RSI: Indicates overbought conditions (above 80), suggesting a potential bearish correction soon.

◽️ Chart 2 (BTC/USDT)

• Volume Indicators:

• Trading Volume: Shows significant activity at certain levels, indicating important entry and exit points.

• Cumulative Volume Delta (CVD): Shows buying and selling pressure on the currency.

• Open Interest: Indicates levels of open interest, reflecting market expectations for the future.

• Funding Rates: Shows funding levels and investor sentiment toward buying or selling.

◽️Chart 3 (XRP Liquidation Heatmap)

• Liquidation Heatmap: Shows margin trading liquidation levels and clusters of liquidation orders.

• Correction Points: The chart shows close liquidation levels, which can be used to identify support and resistance levels.

◽️ Future Outlook for XRP 👀

• Expected Trend: Based on technical analysis, XRP is likely to experience some bearish corrections due to overbought conditions. We may see a test of support levels around $0.5 or lower.

• Investment Advice:

• Entry: Consider strong support levels like $0.5 for entry.

• Exit: Consider resistance levels like $0.75 as potential exit points.

If you need any additional details or a deeper analysis, please let me know!

$XRP #BinanceTournament #ETH_ETF_Approval_23July #TradingShot