$XRP just got wrecked, down almost 8% on the day from a 1.279 high into a 1.174 low. Spot price is sitting around 1.179 now after that flush.
On the NanoTrading Fire chart (4h) the long liquidation heat is stacked under price around 1.17-1.15, with heavier pockets lower if this keeps bleeding. Overhead the short heat and ask walls sit back up toward 1.20-1.22 and the mid-1.24s we just lost.
Binance perps: OI value slid from about $454M down to roughly $397M through the dump, so a lot of that was longs getting cleared, not fresh shorts piling in. Funding is still positive around 0.01%, and the crowd is insanely long — global L/S near 3.05 with top traders around 2.29. People are still trying to catch this knife.
My read: while $XRP stays under 1.20 I respect the downside and think 1.15 gets tested. A clean 4h reclaim of 1.20-1.22 and I'd look for a squeeze back toward 1.24. Lose 1.17 on a 4h close and the next stop is that deeper long pocket.
Are you bidding the 1.15 zone on $XRP or waiting for a reclaim first?
NFA, just my notes 👀
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#XRP #NanoTrading #Ripple
On the NanoTrading Fire chart (4h) the long liquidation heat is stacked under price around 1.17-1.15, with heavier pockets lower if this keeps bleeding. Overhead the short heat and ask walls sit back up toward 1.20-1.22 and the mid-1.24s we just lost.
Binance perps: OI value slid from about $454M down to roughly $397M through the dump, so a lot of that was longs getting cleared, not fresh shorts piling in. Funding is still positive around 0.01%, and the crowd is insanely long — global L/S near 3.05 with top traders around 2.29. People are still trying to catch this knife.
My read: while $XRP stays under 1.20 I respect the downside and think 1.15 gets tested. A clean 4h reclaim of 1.20-1.22 and I'd look for a squeeze back toward 1.24. Lose 1.17 on a 4h close and the next stop is that deeper long pocket.
Are you bidding the 1.15 zone on $XRP or waiting for a reclaim first?
NFA, just my notes 👀
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#XRP #NanoTrading #Ripple
