XRP Army,
Price is still trading inside a descending channel, keeping the short-term structure bearish.
We recently saw a reaction from daily support, but this move alone is not enough to confirm a reversal.
In the past, this support level has shown clean deviations, where price dipped below and quickly reclaimed the level.
A similar scenario could play out again, but confirmation is required.
Key observation:
For any bullish continuation, XRP needs to reclaim the broken support level and hold above it.
Without a reclaim, this move remains a relief bounce within a downtrend.
I’ll be watching lower timeframes for a potential deviation and reclaim before considering longs.
Until then, caution is warranted.
Levels to watch:
Resistance: reclaimed support + upper channel
Support: current daily support zone
MrC
Price is still trading inside a descending channel, keeping the short-term structure bearish.
We recently saw a reaction from daily support, but this move alone is not enough to confirm a reversal.
In the past, this support level has shown clean deviations, where price dipped below and quickly reclaimed the level.
A similar scenario could play out again, but confirmation is required.
Key observation:
For any bullish continuation, XRP needs to reclaim the broken support level and hold above it.
Without a reclaim, this move remains a relief bounce within a downtrend.
I’ll be watching lower timeframes for a potential deviation and reclaim before considering longs.
Until then, caution is warranted.
Levels to watch:
Resistance: reclaimed support + upper channel
Support: current daily support zone
MrC
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.