$XRP 8 The highs of the 4-hour candles are moving lower—are you leaning bullish or bearish?
XRP perpetuals are currently at 1.3063, down 4.3% over 24 hours, with trading volume of around 690 million U.
Since 1.3987, each of the last 8 four-hour candles has made a lower high, and today’s low was 1.2942. The funding rate is 0.005%, so neither longs nor shorts look particularly crowded.
Bullish case: The 1.29–1.30 area was swept today and then reclaimed. Below that is the low of 1.2553 from the past few days.
Bearish case: Highs have been moving steadily lower. Until price gets back above 1.3109, any bounce is just part of the downtrend.
My take: First, watch whether 1.2942 holds.
Are you with the bulls or the bears?
The above does not constitute investment advice.
XRP perpetuals are currently at 1.3063, down 4.3% over 24 hours, with trading volume of around 690 million U.
Since 1.3987, each of the last 8 four-hour candles has made a lower high, and today’s low was 1.2942. The funding rate is 0.005%, so neither longs nor shorts look particularly crowded.
Bullish case: The 1.29–1.30 area was swept today and then reclaimed. Below that is the low of 1.2553 from the past few days.
Bearish case: Highs have been moving steadily lower. Until price gets back above 1.3109, any bounce is just part of the downtrend.
My take: First, watch whether 1.2942 holds.
Are you with the bulls or the bears?
The above does not constitute investment advice.