This one has caught my attention.
$XRP
has dropped 1.10% to $1.066. The dip is solid.
The Long/Short ratio is 0.90x, meaning shorts are in control. The funding rate is -1.0000%, the maximum negative. Shorts are paying the highest fee to stay short, and they are bleeding money every single hour. The volatility score is 9/100, which is very low. When volatility is this low and funding is negative, it is a classic recipe for a sharp move higher. Whale activity shows 43% buy pressure and 55% sell pressure – this is a classic shakeout pattern. The price is holding above $1.055 support. If that holds, I see a move to $1.10 first. But if the short squeeze kicks in, $1.15 is not out of the question.
Trading Plan:
· Entry: $1.060 - $1.066
· SL: $1.045
· TP1: $1.085
· TP2: $1.10
· TP3: $1.15
What is your take on this one?
$XRP
has dropped 1.10% to $1.066. The dip is solid.
The Long/Short ratio is 0.90x, meaning shorts are in control. The funding rate is -1.0000%, the maximum negative. Shorts are paying the highest fee to stay short, and they are bleeding money every single hour. The volatility score is 9/100, which is very low. When volatility is this low and funding is negative, it is a classic recipe for a sharp move higher. Whale activity shows 43% buy pressure and 55% sell pressure – this is a classic shakeout pattern. The price is holding above $1.055 support. If that holds, I see a move to $1.10 first. But if the short squeeze kicks in, $1.15 is not out of the question.
Trading Plan:
· Entry: $1.060 - $1.066
· SL: $1.045
· TP1: $1.085
· TP2: $1.10
· TP3: $1.15
What is your take on this one?