On the XRP chart, a classic short scenario is unfolding.
The price has hit the upper boundary of the ascending channel, right in our area of interest (POI). We clearly see liquidity being taken from the previous highs — this is a clear sign that a big player is using these levels to build a short position. After this resistance block is worked out, I expect a reasonable depreciation of the asset.
Down below, right under the local trendline, there's a massive pool of buy stop orders that will act as a strong magnet for the price, potentially pushing it up to the 1.39 level. The risk-to-reward ratio looks excellent here.$XRP
