$XRP continues to trade below the 5, 10, and 30 period moving averages keeping the short term trend tilted to the downside. Price is attempting to stabilize around 1.09 after failing to hold above recent resistance but I am not interested in catching a bottom here. A reclaim of the 10 MA with expanding volume is what would give me real confidence that buyers are regaining control rather than just pausing before another leg lower.
At the same time, PONS is telling a completely different story in the same market environment. The rejection near 0.047 reads more like profit taking than a structural breakdown and the higher lows continuing to form above the moving averages keep the short term trend intact. That divergence between XRP and PONS in the same session is a useful reminder that not everything moves together. Waiting for confirmation on both rather than forcing a read either way is the only approach that makes sense right now.
#XRP #Macro Insights# #Altcoin Season# $SOL
At the same time, PONS is telling a completely different story in the same market environment. The rejection near 0.047 reads more like profit taking than a structural breakdown and the higher lows continuing to form above the moving averages keep the short term trend intact. That divergence between XRP and PONS in the same session is a useful reminder that not everything moves together. Waiting for confirmation on both rather than forcing a read either way is the only approach that makes sense right now.
#XRP #Macro Insights# #Altcoin Season# $SOL