The dead cat bounce is over. The downtrend resumes.

$XRP /USDT — Rejection at Downtrend Resistance 🐍

Price tried to bounce but is getting absolutely rejected at the EMA(7). The entire moving average stack is a perfect downtrend overhead. This isn't accumulation; it's distribution before the next leg down.

🔴 SHORT SETUP

📌 Entry Zone:

1.6000 – 1.6200

🎯 Targets:

🥇 TP1: 1.5500

🥈 TP2: 1.5028 (24h Low)

🥉 TP3: 1.4800

🛑 Stop-Loss:

1.6350 (Above the EMA(7) and local high)

Why This Could Work (trader logic only)

✅ Bearish EMA Stack: All three EMAs are above price and descending. This is a textbook downtrend structure.

✅ Failed Rally: The bounce lacked volume and conviction. It's being sold into immediately.

✅ Macro Pressure: The 1Y chart is down -48%. No bullish catalyst in sight.

⚠️ Important Rule:

Wait for price to show clear rejection (wick, bearish close) in the entry zone. A clean break above 1.6350 could trigger a short squeeze towards the next resistance. This is a trend-following short. Be patient for the set-up.