Top Trader Reveals Fresh XRP Long Strategy: Entry, Targets, and Risk Levels
- Lark Davis initiates a long position on XRP at $2.20, targeting $2.45 with a stop loss at $2.17.
- XRP is testing its 50-day EMA, with a bounce from the 20-day EMA signaling short-term strength.
- Broader outlooks suggest XRP could reach $10–$40 based on Elliott Wave analysis.
Crypto analyst Lark Davis has watched XRP closely and has brought out a new XRP trading setup as the asset attempts to break through a major technical barrier. Davis shared on social media that XRP is currently testing its 50-day Exponential Moving Average (EMA). He feels this could be a setup for the price to move higher soon.
Recent XRP Price Action and Support Test
Davis also pointed out that XRP recently retested support at the 20-day EMA (yellow line) amid profit-taking moves from traders. For context, XRP posted notable green candles on Tuesday and Wednesday.
During this time, the price moved up 11.5%, from $2.06 to $2.30, before retracing to revisit lows near $2.10. However, XRP has since bounced off this support, a sign of short-term strength from buyers.
At press time, XRP is trading at $2.20, up 1.17% today. Meanwhile, analysts like Davis believe more upside is possible…
The post Top Trader Reveals Fresh XRP Long Strategy: Entry, Targets, and Risk Levels appeared first on Coin Edition.
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Top Trader Reveals Fresh XRP Long Strategy: Entry, Targets, and Risk Levels
- Lark Davis initiates a long position on XRP at $2.20, targeting $2.45 with a stop loss at $2.17.
- XRP is testing its 50-day EMA, with a bounce from the 20-day EMA signaling short-term strength.
- Broader outlooks suggest XRP could reach $10–$40 based on Elliott Wave analysis.
Crypto analyst Lark Davis has watched XRP closely and has brought out a new XRP trading setup as the asset attempts to break through a major technical barrier. Davis shared on social media that XRP is currently testing its 50-day Exponential Moving Average (EMA). He feels this could be a setup for the price to move higher soon.
Recent XRP Price Action and Support Test
Davis also pointed out that XRP recently retested support at the 20-day EMA (yellow line) amid profit-taking moves from traders. For context, XRP posted notable green candles on Tuesday and Wednesday.
During this time, the price moved up 11.5%, from $2.06 to $2.30, before retracing to revisit lows near $2.10. However, XRP has since bounced off this support, a sign of short-term strength from buyers.
At press time, XRP is trading at $2.20, up 1.17% today. Meanwhile, analysts like Davis believe more upside is possible…
The post Top Trader Reveals Fresh XRP Long Strategy: Entry, Targets, and Risk Levels appeared first on Coin Edition.
Read More
Ethereum Whales Stack 449K ETH in a Day, but $1,895 Resistance Holds Firm