If you're thinking of entering $XRP as a speculative trade, you should know this!👇
After the drop over the past few hours, the price has formed a bearish flag pattern.
The price structure is negative, but that's not what matters to me.
What's happening now is the setup for a speculative trap by a market maker. Let me simplify it for you 👇
After the coin dropped, I saw funding rates flip from positive to moderately negative.
Many long positions were liquidated, forcing traders to close their positions.
Stable funding rates and open interest indicate that the price is entering a period of consolidation and balance before its next move.
A drop to the 1.36/1.35/1.34 levels is expected
before any rebound.
After the drop over the past few hours, the price has formed a bearish flag pattern.
The price structure is negative, but that's not what matters to me.
What's happening now is the setup for a speculative trap by a market maker. Let me simplify it for you 👇
After the coin dropped, I saw funding rates flip from positive to moderately negative.
Many long positions were liquidated, forcing traders to close their positions.
Stable funding rates and open interest indicate that the price is entering a period of consolidation and balance before its next move.
A drop to the 1.36/1.35/1.34 levels is expected
before any rebound.