$XRP sitting right on pitchfork support 👀
Price got rejected hard from $1.67 highs and just swept down to test the Auto Pitchfork lower channel line around $1.47. That's exactly where buyers have been stepping in during this consolidation phase.
Three things I'm seeing on this chart:
1. Clean bounce pattern forming off the pitchfork support (blue lower line)
2. Tokyo session range shows absorption around $1.46-$1.47, not much follow-through selling
3. Price structure still holding higher lows from the $1.36 base built earlier in the week
💎 Spot Trade Setup
Entry: $1.46 - $1.48
T1: $1.52 / T2: $1.58 / T3: $1.64
Stop: $1.43 (below pitchfork support and session lows)
Risk 0.5-1% of portfolio. Spot only, size accordingly.
This looks like a typical support retest after an aggressive move. If $1.46 holds, could see rotation back toward the median line around $1.55-$1.58 this week.
What's your read on XRP here, accumulation or more downside coming? 🤔
#xrp #cryptotrading #BTCFellBelow$69,000Again #shoaibCryptoInsights