$XRP Breaking Down Short Opportunity?
Trade Direction: SHORT
Entry Zone: 1.0440 - 1.0465
Stop Loss: 1.0500 (above recent swing high)
Take Profits:
TP1: 1.0380
TP2: 1.0320
TP3: 1.0250 (next major liquidity)
Why this setup?
After failing to hold above the 1.050 level $XRP has formed lower highs and just broke below the key horizontal support around 1.048 with a strong red candle. Market structure shows clear lower highs (LH) and lower lows (LL) in the recent session. Price is trading below the EMA, confirming short-term bearish momentum. This breakdown offers a clean short with defined risk.
Bullish recovery or more downside ahead.
Trade Direction: SHORT
Entry Zone: 1.0440 - 1.0465
Stop Loss: 1.0500 (above recent swing high)
Take Profits:
TP1: 1.0380
TP2: 1.0320
TP3: 1.0250 (next major liquidity)
Why this setup?
After failing to hold above the 1.050 level $XRP has formed lower highs and just broke below the key horizontal support around 1.048 with a strong red candle. Market structure shows clear lower highs (LH) and lower lows (LL) in the recent session. Price is trading below the EMA, confirming short-term bearish momentum. This breakdown offers a clean short with defined risk.
Bullish recovery or more downside ahead.