XRP has been surrounded by positive news recently, but investing at this moment could carry significant risk for buyers. The charts suggest a potential sharp drop toward the $1.50–$2.00 range, representing a decline of approximately 50%. This move could trigger widespread liquidations among leveraged traders.
Let’s begin our analysis starting with the monthly timeframe.
Monthly ⬇️
Since its creation, XRP has only reached a new high this year, breaking the $3.30–$3.40 range. Logically, when this happens, investors typically sell to secure profits. However, the main point is last month’s candle, as indicated by the arrow, closed with a rejection. This suggests that many investors are preparing to take profits on XRP. It may be wise to wait and see how this month’s candle closes. If it also ends with a rejection, it will provide a clearer indication of the market’s direction.
The green arrow shows the likely zone where market is going to correct to ⬆️⬆️⬆️⬆️ on the chart
Confirmation on the weekly timeframe ⬇️⬇️
Based on the weekly timeframe:
1. The market has been respecting a long-standing trendline for several years.
2. This aligns with a significant resistance level, providing a strong indication of a potential sell market.
DAILY CONFIRMATION ⬇️⬇️
On the daily timeframe, we’re seeing a clear confirmation to sell the market.
I never trade without securing at least seven confirmations to ensure a safer and more reliable decision.
Should I sell XRP?
Yes, consider selling and taking profit at a maximum of $2 for safety. Although the market may drop below this level, I would still recommend setting $2 as the ideal target.
Trade with a risk-to-reward ratio of at least 1:3 on the weekly timeframe. This means you’re risking 1% to potentially earn 3x your risk. Here’s how it looks: ⬇️⬇️⬇️
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Final Note: Always keep your maximum leverage at 5x. Remember, the market is king, and you shouldn’t overly trust any analysis, even if selling seems like the logical choice. I want to be honest with you ❤️—this is why I recommend trading with only 1/3 of your capital.
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Tap here ⬇️ to sell
