XRP Breaks Below Daily Triangle: Diagonal Retest Paves the Way Toward 1 USD Milestone?
XRP on the daily (1D) timeframe has confirmed a major structural shift by officially slicing through the lower boundary of its multi-month consolidation triangle formed since August. This decisive breakdown beneath the ascending support trendline has completely neutralized earlier buyer defense.
The recent relief bounce pushing price back toward the 1.35 USD mark represents a standard technical retest. The prior ascending trendline that supported the market for months has now flipped into a formidable resistance barrier. The active daily candle immediately encountered upper wick rejection upon touching this boundary, settling heavily near 1.308 USD. This reaction clearly illustrates buyer exhaustion and confirms that bears retain full control as overhead supply remains intense.
This technical deterioration unlocks an asymmetric Short setup with a highly compelling risk-to-reward ratio. The primary downside objective for this swing impulse targets the major horizontal round-number support baseline at 1.004 USD. A disciplined stop-loss placed cleanly above the local rejection wick at 1.3625 USD ensures strict capital protection against invalidation.
This is not investment advice, DYOR.
$XRP #Colecolen
XRP on the daily (1D) timeframe has confirmed a major structural shift by officially slicing through the lower boundary of its multi-month consolidation triangle formed since August. This decisive breakdown beneath the ascending support trendline has completely neutralized earlier buyer defense.
The recent relief bounce pushing price back toward the 1.35 USD mark represents a standard technical retest. The prior ascending trendline that supported the market for months has now flipped into a formidable resistance barrier. The active daily candle immediately encountered upper wick rejection upon touching this boundary, settling heavily near 1.308 USD. This reaction clearly illustrates buyer exhaustion and confirms that bears retain full control as overhead supply remains intense.
This technical deterioration unlocks an asymmetric Short setup with a highly compelling risk-to-reward ratio. The primary downside objective for this swing impulse targets the major horizontal round-number support baseline at 1.004 USD. A disciplined stop-loss placed cleanly above the local rejection wick at 1.3625 USD ensures strict capital protection against invalidation.
This is not investment advice, DYOR.
$XRP #Colecolen