12.12 XRP Early Morning Forecast Analysis

XRP shows a short-term oversold rebound trend, likely to maintain a range of 1.98–2.00 in the early morning. The rebound strength is suppressed by overhead resistance. If it breaks below the 1.974 support level, the downside risk will increase.

- The intraday low has been tested at 1.974 (a key oversold level), and the current rebound is at 1.9945, indicating a short-term correction phase.
- First resistance overhead: 2.00 (psychological level + previous consolidation lower boundary); second resistance: 2.005 (intraday rebound resistance).
- Support levels below: 1.98 (short-term rebound neckline), 1.974 (intraday low, breakdown targets 1.96–1.97).
- When dropping to 1.974, accompanied by increased volume, the rebound momentum gradually diminishes after touching the bottom, indicating that buying is mainly driven by oversold short-covering rather than institutional funds entering the trend.
- The K-line exhibits a “sharp decline then slow rise” pattern, a typical weak rebound structure lacking sustained upward momentum.

Forecast for early morning movement:
Mainly consolidation: Market trading sentiment is subdued in the early morning, XRP is likely to fluctuate narrowly between 1.98–2.00, with bulls and bears temporarily balanced.
- Breakout upward: Needs to break and hold above 2.00 with increased volume to further test 2.005–2.01, but the probability is low (rebound volume insufficient).
- Break downward: If support at 1.98 is lost, the price will quickly test 1.974, and a breakdown could see it fall to 1.96–1.97.

Reference ranges:
- Within the range: Light long positions near 1.98, stop loss at 1.97, take profit at 2.00; Light short positions near 2.00, stop loss at 2.005, take profit at 1.985.
- After a breakdown: Short directly on a break below 1.974, targeting 1.96; watch for a breakout above 2.005, do not chase high (rebound strength is weak).