Been trading XRP on and off since 2021 and the current setup is one of the cleaner technical patterns I've seen on this asset in a while.
Looking at the daily chart, we've got XRP consolidating in a tightening range between $2.15 support and $2.45 resistance for nearly three weeks now. Volume has been steadily declining during this compression which typically precedes a significant directional move. The Bollinger Bands are the tightest they've been since November 2024, right before that 180% run.
What makes this setup particularly interesting is the fundamental backdrop. We have the spot ETF speculation heating up again with multiple filings under review. Bloomberg analysts recently bumped their approval odds, and historically XRP has shown 15%+ single day moves on major regulatory news. The correlation between XRP and regulatory headlines remains one of the strongest alpha signals in crypto right now.
From a risk management perspective, I've been positioning for both scenarios. The breakout target above $2.45 projects to roughly $2.85 based on the measured move of the consolidation range. Breakdown below $2.15 opens up $1.90 as the next major support where we saw heavy accumulation in January.
My current approach is scaling into a small long position here with stops below $2.10, then adding on a confirmed breakout above $2.48 with volume confirmation. If we break down instead, I'll flip short targeting that $1.90 zone. XRP is maybe 8% of my trading portfolio so I'm not overexposed but the R:R here looks attractive.
For the perpetual positions I've been using BYDFi since they tend to handle the volatility spikes better than some alternatives, though honestly execution quality varies across all these platforms depending on the day. Keeping leverage conservative regardless because news driven moves can gap right through your stop and liquidate you before you can react.
Curious what levels others are watching on XRP right now.
I don't see textbook compression pattern on the chart, it's more like hyper-quantum waffle maple pattern
Right,but do you have AI slops to back this claim?
😂
Didn't it already have an ETF?
I really don't see XRP doing anything else this cycle, it had its run already
In the world of cryptocurrencies, never mention "already"
OP: “We have spot ETF speculation heating up”
Commenter above is 100% correct, XRP spot ETFs already and are in action.
ETF is priced in, also remember Approval odds ≠ timing Bumped odds ≠ actionable signal This would add more volatility potential not any direction certainty.
Also what’s Bollinger bands got to do with anything haha. Same indicator doesn’t mean the same outcome, this is survivorship bias.
Other than that, what you provide is a decent trade journal that may or may not work , who knows.
Nah shit is going to 1.30
https://preview.redd.it/lziobgmvd69g1.png?width=2932&format=png&auto=webp&s=fd98c60cbebea791d1b14d81edba20273f12c541
The OP is looking at the chart pattern of XRP, since I want to add something useful, I'll show a relative strength movement chart I have for crypto. I've put XRP in the red box and you can see it's been falling in the relative strength rankings against 18 other cryptos for the past 60 days.
So I don't know about those patterns, but I can say objectively, XRP is weather than other cryptos I track and it's only gotten weaker in the past 60 trading days. I'd avoid $XRP for now, but this isn't a long term view like the OP was kind of alluding too.
This is going great
Buy XLM or even FLR as proxies to XRP.
XLM is essentially trading at 11 cents measuring against its old circulation (100bn).
FLR is not far off a multi year floor price.