Why XRP is Falling & How to Survive the Dip! 🛡️📉
Hello everyone! Many of you are asking why $XRP and the market are bleeding. Let's look at the technical reasons:
1. Lower Lows (LL) Pattern:
The market failed to break the resistance at 1.8892 and instead formed a new Lower Low. When a previous support level breaks, it often triggers more selling.
2. Oversold RSI but Bearish Trend:
Our RSI hit 29.90, which is very low. While it's "Oversold," a low RSI without a price reversal signal (like a Green SuperTrend) means the bears are still in control.
3. Liquidation of Long Positions:
When the price drops suddenly, many traders who didn't use a stop-loss get liquidated, which pushes the price even further down.
What should we do? * Don't Catch a Falling Knife: Wait for the price to stabilize and for the SuperTrend to flip Green again.
Capital Protection: This is why I always use OCO orders. Protecting your capital today means you can buy cheaper tomorrow!
Stay calm and wait for the confirmation! 📈💎
#XRP #BinanceSquare #MarketAnalysis #Bearish @MEHMOOD255 #TradingEducation $XRP
