Hey everyone, is anyone else watching the massacre they're inflicting on $XRP , dragging it down to $1.05?
The price has been sliding downhill from the highs and found support at $1.03, while trading a staggering $161M+ in USDT volume. When an asset plunges with that much money in play, liquidity is moving at full speed.
The only interesting thing right now is the KDJ: the J line is completely dead at 0.54 points. Extremely oversold. Historically, when the oscillator gets compressed this badly after a vertical drop, impatient shorts chasing the price get hit with a relief rally sooner rather than later. But be careful: trying to catch this falling knife without confirmation of absorption volume in the order book is giving your account away.
Are you waiting for a technical rebound, or do you think this is heading straight for a support break? Let me know below.
The price has been sliding downhill from the highs and found support at $1.03, while trading a staggering $161M+ in USDT volume. When an asset plunges with that much money in play, liquidity is moving at full speed.
The only interesting thing right now is the KDJ: the J line is completely dead at 0.54 points. Extremely oversold. Historically, when the oscillator gets compressed this badly after a vertical drop, impatient shorts chasing the price get hit with a relief rally sooner rather than later. But be careful: trying to catch this falling knife without confirmation of absorption volume in the order book is giving your account away.
Are you waiting for a technical rebound, or do you think this is heading straight for a support break? Let me know below.
