The final bearish signal is here: this rebound structure around $XRP is actually not very solid. Take a look at the chart: the price has consistently failed to get back above the major moving averages. On the daily chart, the moving averages are pressing downward, each rebound is weaker than the last, and volume isn't keeping up. In this kind of market, we're better off looking for opportunities in the direction of the broader trend instead of being swayed by one or two bullish candles.
I'm inclined to wait for a rebound into the resistance zone above before considering a short. That makes it easier to set a stop-loss and offers a more comfortable entry. One reminder, though: the price is some distance from the moving averages, so a short-term bounce could happen at any time. Don't chase or rush—wait for the right level.
🔴 Trade direction: Short
📍 Entry zone: 1.1743 – 1.1773
🛑 Stop-loss: 1.2061
🎯 Take-profit 1: 1.1531
🎯 Take-profit 2: 1.1380
🎯 Take-profit 3: 1.1153
There's no need to chase the next big thing; it will come around in its own time.
Stand alongside Sister Li, and let every moment resonate.
#XRP
Click below to trade 👇
I'm inclined to wait for a rebound into the resistance zone above before considering a short. That makes it easier to set a stop-loss and offers a more comfortable entry. One reminder, though: the price is some distance from the moving averages, so a short-term bounce could happen at any time. Don't chase or rush—wait for the right level.
🔴 Trade direction: Short
📍 Entry zone: 1.1743 – 1.1773
🛑 Stop-loss: 1.2061
🎯 Take-profit 1: 1.1531
🎯 Take-profit 2: 1.1380
🎯 Take-profit 3: 1.1153
There's no need to chase the next big thing; it will come around in its own time.
Stand alongside Sister Li, and let every moment resonate.
#XRP
Click below to trade 👇