The endless pattern in $XRP : From the illusion at $1.63 to the stop sweep at $1.44. 📉🧹
While on social media the threads about Ripple’s institutional usefulness are starting to pop up again, the microstructure on the 1H chart gives a much harsher read: progressively lower highs and a violent sweep of liquidity that pierced all the way down to $1.4458.
Trading at $1.4887, price is trying to build a technical bounce after holding the 7 EMA ($1.4852), but it hits head-on into a massive resistance block: the 25 EMA ($1.4982) and the 99 EMA ($1.5033) acting as dynamic overhead in the short term.
Trading by narrative without looking at the real liquidity in the order book is the fast track to funding the market’s commissions. As long as price remains below the $1.50 cluster, any move without volume risks being absorbed by supply.
Do you see enough strength to break above $1.50, or do you think we’ll go back to test the $1.44 liquidity? I’m reading you in the comments below. 👇👀
$XRP #XRP #Ripple #BinanceSquare #PriceAction #CryptoTrading
While on social media the threads about Ripple’s institutional usefulness are starting to pop up again, the microstructure on the 1H chart gives a much harsher read: progressively lower highs and a violent sweep of liquidity that pierced all the way down to $1.4458.
Trading at $1.4887, price is trying to build a technical bounce after holding the 7 EMA ($1.4852), but it hits head-on into a massive resistance block: the 25 EMA ($1.4982) and the 99 EMA ($1.5033) acting as dynamic overhead in the short term.
Trading by narrative without looking at the real liquidity in the order book is the fast track to funding the market’s commissions. As long as price remains below the $1.50 cluster, any move without volume risks being absorbed by supply.
Do you see enough strength to break above $1.50, or do you think we’ll go back to test the $1.44 liquidity? I’m reading you in the comments below. 👇👀
$XRP #XRP #Ripple #BinanceSquare #PriceAction #CryptoTrading
