$XRP This drop is a bit harsh.
Today it even bounced back toward the $1.28 area. But the rebound that it took some effort to work out earlier has basically been pushed back by market sentiment again. The CLARITY Act voting couldn’t get through, and with the entire crypto market pulling back in sync, XRP also couldn’t hold up.
At this level, I think it’s more important to see whether it can stabilize around $1.28 than to chase the decline.
In the short term, if we see signs of a stop in the selling here and trading volume expands again, then the logic of going long from the lows would return. If $1.28 keeps getting broken, the bears may continue to push lower, and hard-holding longs could mean catching the price somewhere in the middle of the slope.
XRP’s volatility is always relatively high. If it rose fast before, then during a pullback it won’t be polite either. Right now it’s better to focus on price and volume changes—don’t get carried away just because you see a single big bearish candle.
Today it even bounced back toward the $1.28 area. But the rebound that it took some effort to work out earlier has basically been pushed back by market sentiment again. The CLARITY Act voting couldn’t get through, and with the entire crypto market pulling back in sync, XRP also couldn’t hold up.
At this level, I think it’s more important to see whether it can stabilize around $1.28 than to chase the decline.
In the short term, if we see signs of a stop in the selling here and trading volume expands again, then the logic of going long from the lows would return. If $1.28 keeps getting broken, the bears may continue to push lower, and hard-holding longs could mean catching the price somewhere in the middle of the slope.
XRP’s volatility is always relatively high. If it rose fast before, then during a pullback it won’t be polite either. Right now it’s better to focus on price and volume changes—don’t get carried away just because you see a single big bearish candle.