🚨$XRP UNDER CRITICAL PRESSURE!📉LAST SUPPORT BEFORE A VIOLENT MOVE?
The daily chart of XRP/USDT shows persistent bearish momentum, currently trading at 1.0732 with a pullback of -3.29% in the last 24 hours. The price is compressed at the bottom of its structure, testing key demand zones.
🔍 Trend Analysis and IndicatorsTrend: Strongly bearish in the short and medium term. The price is moving below its fast moving average MA(7), located at 1.1138, which acts as the first immediate resistance. The macro bearish bias is confirmed by trading significantly below the intermediate MA(25) (1.1530) and the institutional MA(99) (1.3259).Bollinger Bands: The price action unfolds in the lower channel after being rejected at the mid-line (MB: 1.1424). Currently, the quote is dangerously close to the lower band (DN: 1.0581), which represents support due to extreme volatility, while the upper band is at 1.2265.Key Floor: The most important structural low and definitive medium-term support that buyers are defending is precisely located at 1.0462.
💡 Trading Strategy: Buy or Sell?
Buy (Spot / Long)?: Scenario with a very attractive risk/reward ratio for quick bounces due to oversold conditions. Optimal entries are in the support range between 1.0462 - 1.0585 (close to the lower band and the previous low). Management: Strictly place a Stop Loss below 1.0350.
Sell (Short)?: Trade in favor of the main trend. Short positions gain higher technical probability during failed bounces towards the resistance zone between MA(7) and the central axis MB (1.1138 - 1.1424), projecting profit-taking targets towards the session low at 1.0462.
#XRP #TechnicalAnalysis
May the Lord bless and prosper those who trade here, in the name of Jesus
The daily chart of XRP/USDT shows persistent bearish momentum, currently trading at 1.0732 with a pullback of -3.29% in the last 24 hours. The price is compressed at the bottom of its structure, testing key demand zones.
🔍 Trend Analysis and IndicatorsTrend: Strongly bearish in the short and medium term. The price is moving below its fast moving average MA(7), located at 1.1138, which acts as the first immediate resistance. The macro bearish bias is confirmed by trading significantly below the intermediate MA(25) (1.1530) and the institutional MA(99) (1.3259).Bollinger Bands: The price action unfolds in the lower channel after being rejected at the mid-line (MB: 1.1424). Currently, the quote is dangerously close to the lower band (DN: 1.0581), which represents support due to extreme volatility, while the upper band is at 1.2265.Key Floor: The most important structural low and definitive medium-term support that buyers are defending is precisely located at 1.0462.
💡 Trading Strategy: Buy or Sell?
Buy (Spot / Long)?: Scenario with a very attractive risk/reward ratio for quick bounces due to oversold conditions. Optimal entries are in the support range between 1.0462 - 1.0585 (close to the lower band and the previous low). Management: Strictly place a Stop Loss below 1.0350.
Sell (Short)?: Trade in favor of the main trend. Short positions gain higher technical probability during failed bounces towards the resistance zone between MA(7) and the central axis MB (1.1138 - 1.1424), projecting profit-taking targets towards the session low at 1.0462.
#XRP #TechnicalAnalysis
May the Lord bless and prosper those who trade here, in the name of Jesus