XRP Gege’s Today Trading Guide
On September 16, XRP saw a sharp plunge. The market structure has completely weakened. The main bearish catalyst stems from the U.S. Senate’s procedural vote on the CLARITY Act failing, which dashed regulatory expectations and directly triggered panic selling. After rebounding and pushing higher yesterday, today it rapidly dropped more than 7% within four hours. The total 24-hour decline reached 13.49%. Short-term bullish momentum has been completely exhausted.
The technical bearish signals are clear: price has effectively broken below the 20-day moving average key support. The MACD remains in a dead-cross configuration, and the ADX value is rising, indicating strong downside trend momentum. Although medium- to long-term moving averages and trend indicators still provide some support, the heavy selling pressure in the short term has been released in concentrated fashion, meaning the correction phase has not ended.
At present, market sentiment is weak. Continued policy-related negative factors are suppressing the market, and any short-term rebound is merely a weak corrective repair. Intraday, short-term pressure is concentrated in the 1.3010–1.3160 range, and the rebound faces very strong resistance.
For today’s trading approach, Gege favors trading in line with the trend and looking short. If the price rebounds into the 1.3030–1.3180 range, place short orders in batches. The first short-term target is 1.2880. If the weakness persists and downside continues, a second target at 1.2580 can be considered. Overall, bias is to short on strength rather than casually bottom-fishing to go long. #Xrp🔥🔥 $XRP
On September 16, XRP saw a sharp plunge. The market structure has completely weakened. The main bearish catalyst stems from the U.S. Senate’s procedural vote on the CLARITY Act failing, which dashed regulatory expectations and directly triggered panic selling. After rebounding and pushing higher yesterday, today it rapidly dropped more than 7% within four hours. The total 24-hour decline reached 13.49%. Short-term bullish momentum has been completely exhausted.
The technical bearish signals are clear: price has effectively broken below the 20-day moving average key support. The MACD remains in a dead-cross configuration, and the ADX value is rising, indicating strong downside trend momentum. Although medium- to long-term moving averages and trend indicators still provide some support, the heavy selling pressure in the short term has been released in concentrated fashion, meaning the correction phase has not ended.
At present, market sentiment is weak. Continued policy-related negative factors are suppressing the market, and any short-term rebound is merely a weak corrective repair. Intraday, short-term pressure is concentrated in the 1.3010–1.3160 range, and the rebound faces very strong resistance.
For today’s trading approach, Gege favors trading in line with the trend and looking short. If the price rebounds into the 1.3030–1.3180 range, place short orders in batches. The first short-term target is 1.2880. If the weakness persists and downside continues, a second target at 1.2580 can be considered. Overall, bias is to short on strength rather than casually bottom-fishing to go long. #Xrp🔥🔥 $XRP