$XRP has been stuck in a tiny box for two days now. Around 1.254 right now, and the last 24h range was only 1.242 to 1.262. Market's asleep on it.
On the NanoTrading Fire chart (4h) price is trading below value. POC sits up near 1.30 and the value area low is roughly 1.27, so everything above is resistance until it gets reclaimed. The brightest bid bands are right under price at 1.24-1.25, with more bids stepping down to 1.20. The liquidation heatmap is the part that bugs me: long liqs are stacked thick between about 1.22 and 1.24, while short liqs above are thin up to 1.30.
Binance perps don't show much conviction either way. OI went from ~267M to ~273M XRP and is now ~271.7M, funding is flat at 0.01% every period, but ~71% of accounts are long, both top traders and the crowd. A crowd that long inside a dead range usually gets tested.
My read: if the 1.24 bids give way, $XRP probably sweeps those long liqs into 1.22-1.23 before anything real happens. Upside needs a 4h close back above 1.27 to open the path to the 1.30 POC. Until one of those breaks I'm not touching it 👀
Are you holding $XRP through this chop or waiting for the 1.22 flush?
NFA, just my chart read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#XRP #CryptoTrading #NanoTrading
On the NanoTrading Fire chart (4h) price is trading below value. POC sits up near 1.30 and the value area low is roughly 1.27, so everything above is resistance until it gets reclaimed. The brightest bid bands are right under price at 1.24-1.25, with more bids stepping down to 1.20. The liquidation heatmap is the part that bugs me: long liqs are stacked thick between about 1.22 and 1.24, while short liqs above are thin up to 1.30.
Binance perps don't show much conviction either way. OI went from ~267M to ~273M XRP and is now ~271.7M, funding is flat at 0.01% every period, but ~71% of accounts are long, both top traders and the crowd. A crowd that long inside a dead range usually gets tested.
My read: if the 1.24 bids give way, $XRP probably sweeps those long liqs into 1.22-1.23 before anything real happens. Upside needs a 4h close back above 1.27 to open the path to the 1.30 POC. Until one of those breaks I'm not touching it 👀
Are you holding $XRP through this chop or waiting for the 1.22 flush?
NFA, just my chart read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#XRP #CryptoTrading #NanoTrading
