To be honest, at $XRP right now, it's looking pretty interesting. The price is stuck in the range of 1.07768 to 1.07913, clearly hitting some resistance, and the bears are holding strong, sellers are clinging to that upper line. Short-term momentum has weakened, so the likelihood of a downward move is higher.
My strategy is straightforward: as long as the price doesn't break through 1.08537, the bearish logic still stands. I'm looking to enter around this resistance zone, setting a stop-loss at 1.08537 and splitting take-profits into three levels—first aiming for 1.07318, with a risk-reward of 1:0.7; then looking at 1.06970, with 1:1.2; and finally 1.06447, if it hits, that's a 1:2. The structure is clear, and with high leverage, you need to keep a close eye on it.
However, this short trade is betting on the failure of the resistance zone, and if it breaks the stop-loss line, you have to accept that. Right now, liquidity is moving downward, and the bears have the upper hand, but the market can flip at any moment, so managing your position size is crucial.
My strategy is straightforward: as long as the price doesn't break through 1.08537, the bearish logic still stands. I'm looking to enter around this resistance zone, setting a stop-loss at 1.08537 and splitting take-profits into three levels—first aiming for 1.07318, with a risk-reward of 1:0.7; then looking at 1.06970, with 1:1.2; and finally 1.06447, if it hits, that's a 1:2. The structure is clear, and with high leverage, you need to keep a close eye on it.
However, this short trade is betting on the failure of the resistance zone, and if it breaks the stop-loss line, you have to accept that. Right now, liquidity is moving downward, and the bears have the upper hand, but the market can flip at any moment, so managing your position size is crucial.