๐ $XRP
Consolidation or Breakdown?
XRP recently touched the $1.44 resistance, but sellers pushed the price down from there. Is this really a "failed breakout" or just a temporary pull-back?
๐ง Logic and Technical Factors:
ETF Factor (May 7): The delay of the GraniteShares 3x Leveraged ETF has created some uncertainty in the market. Traders are now waiting for May 7, leading to a "wait and watch" scenario in volume.
$BTC Correlation: When Bitcoin cools off slightly from the psychological level of $80,000, profit-taking often occurs in altcoins. XRP is currently experiencing that correlation.
Volume Analysis: There was an attempt at a breakout, but the price couldn't sustain on high volume. This indicates that heavy "Sell Walls" are present at $1.44.
What do you think? Will the $1.40 support hold or not? ๐
#xrp #tradingStrategy #Ripple๐ฐ #Ethereum #bitcoin
Consolidation or Breakdown?
XRP recently touched the $1.44 resistance, but sellers pushed the price down from there. Is this really a "failed breakout" or just a temporary pull-back?
๐ง Logic and Technical Factors:
ETF Factor (May 7): The delay of the GraniteShares 3x Leveraged ETF has created some uncertainty in the market. Traders are now waiting for May 7, leading to a "wait and watch" scenario in volume.
$BTC Correlation: When Bitcoin cools off slightly from the psychological level of $80,000, profit-taking often occurs in altcoins. XRP is currently experiencing that correlation.
Volume Analysis: There was an attempt at a breakout, but the price couldn't sustain on high volume. This indicates that heavy "Sell Walls" are present at $1.44.
What do you think? Will the $1.40 support hold or not? ๐
#xrp #tradingStrategy #Ripple๐ฐ #Ethereum #bitcoin