🚨 XRP/USDT – Double Top or Sideways?

A potential "double top" pattern is forming on the 4-hour chart, which is a bearish signal.

📊 Price and Statistics:

Current: $2.9952 (–3.12%)

24h: $2.9784 – $3.0941

Volume: 99.55M XRP (~301.96M USDT)

📈 "Double Top" Pattern:

First Top: ~$3.1858

Neckline: ~$2.9370–$2.95

Second Top: ~$3.1200

⚠️ The pattern is not confirmed until the price breaks the neckline with increased volume. If the breakout occurs, potential target: $2.70–$2.73.

📉 Moving Averages (EMA):

EMA7: $3.0226, EMA25: $3.0432, EMA99: $3.0014

Price below all EMAs → bearish trend

Short-term EMAs act as resistance

📊 MACD:

Bearish crossover, histogram growing down → selling pressure intensifies

📉 Stochastic RSI & RSI:

STOCHRSI: 2.5, RSI(7): 31 → oversold, a short-term bounce is possible

RSI(14): 40 → overall trend is bearish

⚡ Potential Scenarios:

🔴Bearish: breakout of the neckline ~$2.93–$2.95 → target 🎯$2.70–$2.73

🟢Bullish: bounce to EMA7 ~$3.02 → resistance 🎯$3.09–$3.12

💡 Risk Management:

⛔️📉Stop-loss for short: above $3.12

⛔️📈Stop-loss for long: below neckline ~$2.93

Spot trading 👉$XRP

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