$XRP 24-hour low, current price 1.3331, previous low 1.3362.
After a new low, three common scenarios are:
① Rebounds to the previous low, then falls back: the downtrend continues
② Moves sideways near the previous low: consolidation; wait for direction
③ Quickly recovers the previous low and holds above it: a false breakdown
It is currently below the previous low, so first watch whether scenario ① or ② plays out.
#XRP
This view could be wrong at any time. Trade at your own risk.
After a new low, three common scenarios are:
① Rebounds to the previous low, then falls back: the downtrend continues
② Moves sideways near the previous low: consolidation; wait for direction
③ Quickly recovers the previous low and holds above it: a false breakdown
It is currently below the previous low, so first watch whether scenario ① or ② plays out.
#XRP
This view could be wrong at any time. Trade at your own risk.