$XRP : Short-Term Downtrend Continuation 📉
Trading Setup: Short
Entry Zone: 2.02 – 1.99
SL: 2.048
TP1: 1.9680
TP2: 1.920
TP3: 1.8201 (Extension Target)
Technical Analysis
$XRP is currently trading in a decisive short-term downtrend, with major resistance at the MA(25) near $2.0200 acting as a consistent dynamic ceiling. The broader trend is also bearish, reinforced by a confirmed "Death Cross" (50 EMA below 200 EMA) and price trading below key moving averages (Source 2.1, 2.4, 4.3).
Momentum Indicators: The MACD is deeply below the zero line, validating strong underlying bearish momentum. While the RSI may be showing signs of being oversold on lower timeframes (suggesting a minor counter-trend bounce is possible), the dominant trend remains down, leaving room for further decline (Source 4.7).
Key Support: The $1.9800 – $2.00 zone is a critical support area, supported by volume accumulation and the 78.6% Fibonacci level (Source 2.4, 4.1, 4.7).
Execution Trigger
The setup identifies a high-probability trend continuation play, entering on a rejection or failure to sustain price above the dynamic resistance area ($2.0200 - $2.025). The trade targets a breakdown of the $1.9800 support, aiming for $1.9680 and $1.920, with a major extension target at the $1.8201 low. A clean break above the $2.048 Stop Loss would invalidate the short thesis.