Technical analysis by MMBTtrader about Symbol XRP: Buy recommendation (16 hour ago)

As observed on the chart, XRP has initiated a corrective phase within a defined descending channel, experiencing significant downward momentum. The price is now testing the channel's lower support boundary for a potential reversal. A strong reaction at this level, followed by a bullish reversal candle with supporting volume, could signal the start of an upward move toward the channel's upper resistance. A decisive breakout above the channel, especially with increasing volume, would indicate a shift in market structure and likely activate further bullish momentum. In such a scenario, initial technical projections suggest a measured move toward the $4.00 level, which aligns with the pattern's implied volatility and previous key resistance zones. DISCLAIMER: ((trade based on your own decision)) <