XRP Breaks Below Triangle Pattern: Retest Paves the Way for Fresh Downside Wave?
XRP on the 4-hour timeframe has confirmed a major structural shift by officially slicing through the lower boundary of its multi-week consolidation triangle. Following prolonged range compression, this decisive breakdown beneath the ascending support trendline has completely neutralized earlier buyer defense.
The brief relief bounce back toward the 1.35 USD region represents a standard technical retest. The prior diagonal support shelf has now transitioned into a formidable resistance barrier, further reinforced by the downward-sloping dynamic moving average baseline overhead. The current 4-hour candle exhibits clear upper wick rejection upon contacting this inflection zone, demonstrating that aggressive sellers remain firmly in control while dip-buying volume continues to dry up.
This technical deterioration offers an asymmetric Short entry with an exceptional risk-to-reward ratio. The primary downside objective for this impulsive wave targets the major round-number baseline around 1.004 USD. To ensure disciplined capital preservation, a tight stop-loss should be placed just above the recent swing rejection at 1.3625 USD.
DYOR $XRP $XLM $XPL #Colecolen
XRP on the 4-hour timeframe has confirmed a major structural shift by officially slicing through the lower boundary of its multi-week consolidation triangle. Following prolonged range compression, this decisive breakdown beneath the ascending support trendline has completely neutralized earlier buyer defense.
The brief relief bounce back toward the 1.35 USD region represents a standard technical retest. The prior diagonal support shelf has now transitioned into a formidable resistance barrier, further reinforced by the downward-sloping dynamic moving average baseline overhead. The current 4-hour candle exhibits clear upper wick rejection upon contacting this inflection zone, demonstrating that aggressive sellers remain firmly in control while dip-buying volume continues to dry up.
This technical deterioration offers an asymmetric Short entry with an exceptional risk-to-reward ratio. The primary downside objective for this impulsive wave targets the major round-number baseline around 1.004 USD. To ensure disciplined capital preservation, a tight stop-loss should be placed just above the recent swing rejection at 1.3625 USD.
DYOR $XRP $XLM $XPL #Colecolen