The $XRP oversold bounce is a trap until proven otherwise.
RSI is 20 on the 4h. Short.
Price sits below the 20D and 50D MAs, while longs are still paying 0.010% funding. That is not capitulation. It’s trapped optimism getting squeezed as XRP drops 6.72% to $1.09.
Volume is only 0.8x its 20d average, so this dump lacks the panic volume I’d want for a clean reset. $BTC can stabilize and XRP can still lag hard.
At $1.10, I’d sell strength, not chase a bounce. XRP is 24% off its 30d high and just 3% above the range floor. Oversold can stay oversold. 🩸📉
$171.53M traded. Still no reversal signal.
#XRP #Crypto #Trading
RSI is 20 on the 4h. Short.
Price sits below the 20D and 50D MAs, while longs are still paying 0.010% funding. That is not capitulation. It’s trapped optimism getting squeezed as XRP drops 6.72% to $1.09.
Volume is only 0.8x its 20d average, so this dump lacks the panic volume I’d want for a clean reset. $BTC can stabilize and XRP can still lag hard.
At $1.10, I’d sell strength, not chase a bounce. XRP is 24% off its 30d high and just 3% above the range floor. Oversold can stay oversold. 🩸📉
$171.53M traded. Still no reversal signal.
#XRP #Crypto #Trading