Today, the XRP market has my blood pressure rising. The hourly chart shows one red candle after another, and the MACD yellow and white lines are firmly below the zero axis, still in a dead cross pattern — this clearly tells you: the bears haven't finished venting yet!
Why?
The 'dead cross trend' and 'below the zero axis' in the chart are not written in vain; this is the technical analysis speaking: the trend is still down! What everyone is surely concerned about now is: after this drop, will there be a rebound and a rise, or will it keep going down? Resistance levels of 2.0300 and 2.1770 seem far away, while support levels of 1.8400 and 1.7220 seem just around the corner. I'll say it directly: don't dream about a short-term surge; first, let's see if the lower support can hold.
What should we do? Resist? Bottom fish? Don't rush; Shengyi gives you a two-step approach:
Step 1: A rebound is an opportunity for you to escape or short.
If it really rebounds to around 2.0300, don’t get excited and chase the price; that's a resistance level where you should reduce your position and test a small short. Remember this: Before the trend reverses, every rebound is an illusion.
Step 2: Support levels are not just random bottom fishing.
In the range of 1.9300–1.8400, if it drops here and stabilizes, you can take a small position for a rebound, in and out quickly. But only when it gets to around 1.7220 is it a position where this drop might take a breather. But would you dare to buy here? If you buy right, it's the bottom; if you buy wrong, it's the abyss...
Shengyi's view: What you need to do now is not to go all in, but to divide your funds into several parts, testing in batches when it drops to key levels, with proper stop-losses, don't hold onto positions. For example, try longing around 1.8400, if it breaks below 1.8200, withdraw, and reduce when it rebounds to around 2.0. This is called 'advancing step by step,' not 'leaving it to fate.'
By the way, did you see the liquidation data?
In 24 hours, over 15 million was liquidated, mostly long positions! What does this indicate? Most people are still looking long against the trend, which is the most dangerous time in the market.
If you are still fully loaded, I advise you to stay calm; if you are on the sidelines, I suggest you wait a bit longer. The market won’t finish in a day, but you could lose all your money in a day.
Do you know? Real big market movements often happen when most people are in despair. After this drop of XRP, it may lead to an unexpected rebound, but whether you can catch it depends on whether you can follow the right people and understand the signals. Shengyi shares practical ideas and key levels in the village every day, not just for XRP, but also for more coins' ambush strategies.
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Shengyi's abilities are not bragging or making empty promises; they only teach you practical survival skills. Follow Shengyi; fans who want to catch up should find Shengyi Village. Shengyi announces entry points and exit timing in the village every day!#Xrp🔥🔥 $XRP
