$XRP: Fakeout Confirmed: Bulls Trapped at Local Highs
SHORT SETUP XRP
Entry: $1.3220 - $1.3300
Stop Loss: $1.3800
Take Profit: $1.2180 (2R)
Key Levels: Support $1.3112 | Resistance $1.3369
Technical Analysis for $XRP: Price sits below EMA9, EMA21, EMA50 and EMA200, while the MACD histogram is negative and RSI is at 41, all pointing to bearish momentum. ADX at 34 confirms a strong trend. With 1hour resistance at 1.3369 and support at 1.3112, short pressure is favored. Together, these indicators favor SHORT continuation toward support.
Market Context: BTC is in a bearish 4hour trend, down 3% on the day, and the broader market is broadly negative with 93.7% red
SHORT $XRP
SHORT SETUP XRP
Entry: $1.3220 - $1.3300
Stop Loss: $1.3800
Take Profit: $1.2180 (2R)
Key Levels: Support $1.3112 | Resistance $1.3369
Technical Analysis for $XRP: Price sits below EMA9, EMA21, EMA50 and EMA200, while the MACD histogram is negative and RSI is at 41, all pointing to bearish momentum. ADX at 34 confirms a strong trend. With 1hour resistance at 1.3369 and support at 1.3112, short pressure is favored. Together, these indicators favor SHORT continuation toward support.
Market Context: BTC is in a bearish 4hour trend, down 3% on the day, and the broader market is broadly negative with 93.7% red
SHORT $XRP