Technical analysis by AlgoVesting about Symbol XRP: Buy recommendation (5/30/2025)

Just entered a long position on XRP/USDT. Here's my quick take:Entry: $2.1569Stop Loss: $2.0388Take Profit: $3.1512Technical Rationale:Eyeing a bounce from a clear support zone around $2.04-$2.10, where we've seen buying interest before. My SL is tucked just below this area. The target at $3.1512 is a significant previous resistance level from early May. This setup offers a compelling risk/reward ratio of over 8:1. Watching for price to hold this support and confirm the upward move. Potentially a mitigation play if recent lows were a liquidity grab.Fundamental Check:Always crucial with XRP – keeping a close eye on any breaking news regarding Ripple and the SEC, as that can heavily influence price. Positive developments could fuel this move.