$XRP Bears Take the Lead — Is This a Breakdown or Just a Classic Shakeout?
XRP is showing clear signs of weakness as sellers continue to dominate. After several failed attempts to break above the key daily resistance near $1.96 on Sunday, XRP reversed sharply, dropping 2.66% over the next two sessions. As of Wednesday, it’s trading around $1.86, keeping bearish pressure in play.
If the corrective move continues, XRP could head toward a critical support zone at $1.77, matching the December 19 swing low — a level that may determine whether the market stabilizes or dives further. A decisive break below this area could trigger more selling and confirm a continuation of the downtrend.
Momentum indicators remain bearish. On the daily chart, the RSI sits near 42, below the neutral 50, signaling that sellers are still in control. Meanwhile, MACD lines are converging, reflecting indecision among traders — often a precursor to increased volatility.
On the bullish side, renewed buying could push XRP back toward the $1.96 resistance. However, only a strong daily close above this level would overturn the bearish structure and shift momentum toward the bulls.
Short-Term Trade Setup:
🔻 Sell Entry: 1.92 – 1.96
🎯 TP1: 1.86
🎯 TP2: 1.77
❌ SL: 2.02
🔺 Buy Entry (on confirmation): Daily close above 1.96
🎯 TP: 2.10
❌ SL: 1.88
Is XRP gearing up for another leg down, or is it setting a trap for aggressive bears?
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