Seeing a glaring 'death cross' under the water on the XRP candlestick chart made my heart skip a beat. Franklin Templeton's XRP ETF holdings have exceeded 100 million! The market is splashing cold water while sending warmth; what's going on? Don't rush, let me break it down for you in plain terms, how to play today's market.
Looking at the news again:
Institutions holding $200 million in XRP indicates that someone has a long-term bullish outlook. But it's like giving you a reassurance pill; the effect is slow and cannot immediately stop the current downward trend. The news affects sentiment, while technicals determine buy and sell points. So, don't rush in just because of good news; if the timing is off, even the best cards can be played poorly.
So the first step is to find Nanxi, who not only analyzes the news for you at the first time but also gives you a stable entry point.
First, look at the technical aspect:
The downtrend is not over yet, keep a close eye on key positions.
The current hourly chart clearly shows a downtrend. The MACD double lines are lying below the 0 axis, forming a 'death cross underwater', which is a typical weak signal. There is heavy pressure above, with 1.8760 being the first barrier, and further up 1.9500 is a strong resistance area, it’s hard to break through without good news. Below? In the short term, we can hold up to 1.8250, but if it really breaks down, we’ll have to look towards around 1.7700. Note this detail: the trading volume is shrinking, indicating that the forces of the crash are weakening, and the rebound may be building strength…
Those who don't know how to hit points can follow Nanxi, who will analyze in real time in the village and provide the current best entry point.
Nanxi viewpoint: Today will be volatile, high sell low buy is the way.
In my personal judgment, the probability of a direct collapse to 1.77 today is low, but a strong pull breaking 1.95 is also difficult. It is more likely to fluctuate between 1.8250 and 1.8760. So how should we operate?
If you have a heavy position, take the opportunity to reduce your holdings near 1.8760 during the rebound, don't be greedy.
If you are lightly positioned and want to play short-term, you can try a small position to long in the 1.83-1.85 area, taking a rebound, with a stop-loss below 1.8250.
If it breaks below 1.8250, don’t rush to catch the bottom, the next observation point is at 1.80, or even 1.77.
Remember one thing: Before the trend reverses, every rebound is an opportunity for you to adjust your position, not a chance for you to chase after rising prices. Find Nanxi to help you plan your positions and make money!
The market is always changing, but human greed and fear do not change. Why do many people panic when they see a drop and chase when they see a rise? Because they have no chart and no plan in their minds. Nanxi shares key positions and operational ideas like this every day in the village, not just XRP, but also the entry and exit points and stop-loss settings for more coins. I will draw the lines in advance and clarify the logic.
If you don't want to be led by the market anymore, and want to learn to read charts, find buying and selling points, or even plan for the next opportunity in advance—find Nanxi, Nanxi will announce specific entry times and real-time news in the village every day!#Xrp🔥🔥
