Is $XRP holding its ground or poised for a breakout?
$XRP is currently hovering above the psychologically important 3.0000 level, which has historically served as support. Price action continues to show lower lows and bearish candlestick patterns, with selling pressure climbing above 77%.
Despite strong long-term performance (up 420% year-to-date), recent momentum has weakened. Prices are currently consolidating, with the risk of further declines.
What's next?
If 3.0000 holds, XRP could attempt a rally to 3.10-3.20.
A break below 2.90 would open the door to a rally to 2.75 or even 2.60.
Momentum indicators and volume suggest that bears are currently in control.
Short Trade Setup
Entry point: 3.01-3.03, after a weak rebound.
Stop loss: 3.12.
TP1: 2.92.
TP2: 2.75.
TP3: 2.60.
XRP is at a critical level. Significant volatility could occur soon. If bulls intervene, watch for a strong break below 2.90 or a short-term rebound. Patience and risk control are crucial at this point.