XRP Pullback Seen as Buy on Weakness Ahead of $3.38 Retest
I note XRP dropped 6% to $3.09 after breaking a key resistance, but I believe the bullish trend remains intact following the SEC settlement breakthrough.
Technical indicators point to a likely retest of $3.38 if current support holds, with momentum and volume still skewed to the upside.
I view the pullback as a buying opportunity on weakness, while stressing risk management if price breaks below the recent support zone.
Analysis
Despite the decline, the breakout over prior resistance and sustained momentum suggest higher probability of a move back toward $3.38; monitor volume and support at current levels for confirmation.
Recommendation
Buy on weakness around current levels if support holds; use a stop below the recent support zone and scale targets toward $3.38 while managing position size.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.