XRP/USDT – Bullish Reversal Setup After CHoCH Breakout

Analysis:

The chart shows XRP/USDT (1H timeframe) developing a bullish structure after a Change of Character (CHoCH) confirmation near the $2.94 support zone. Price respected the key demand area (highlighted by green arrows) and broke above the descending trendline, signaling potential reversal momentum.

Support Zone: $2.94 – $2.87 (strong demand zone, price reacted twice).

Resistance Levels:

First target: $3.38

Second target: $3.66

Indicators:

SMA (9) at $3.04 – price hovering around it, suggesting early bullish strength.

Ichimoku showing potential cloud breakout aligning with bullish momentum.

Volume: Increasing at demand, indicating strong buyer interest.

Trade Plan:

Entry Zone: Around $3.00 – $3.05 (after retest confirmation).

Stop-Loss: Below $2.86 (invalidates setup if broken).

Targets:

TP1: $3.38

TP2: $3.66

Risk/Reward: Favorable, with potential 2:1 or higher depending on entry execution.

👉 This setup suggests that XRP may attempt a bullish continuation if support holds and volume sustains the breakout momentum.