Last 5–7 Days of candles:
-Series of small-bodied candles with long wicks, especially on top → indecision and rejection from higher levels
- Several failed attempts to close above $2.30 (61.8% Fib) → strong selling pressure at resistance
- May 30–31 candle: Small red body, closes near the low of the day → mild bearish continuation
- Volume decreasing → no major buyer absorption yet
The current setup looks like a descending triangle / flat support with lower highs.
Price broke slightly below the horizontal line around $2.17 — bearish structure breakdown if confirmed with follow-through
Price closes below $2.15, ideally under $2.10 on strong volume.
Would signal "failure to hold" the short-term range → leads to move toward next strong support at $2.00–$1.95
If $1.95 fails to hold on daily close → next leg lower to:
- $1.61 (38.2% Fib) — strong buy level
- Possibly even $1.29 in a broader flush-out (only if Bitcoin also drops)
*Drop your comment or thoughts on XRP
**REMEMBER, everything is probability, nothing is investment advice. Educational only!
-Series of small-bodied candles with long wicks, especially on top → indecision and rejection from higher levels
- Several failed attempts to close above $2.30 (61.8% Fib) → strong selling pressure at resistance
- May 30–31 candle: Small red body, closes near the low of the day → mild bearish continuation
- Volume decreasing → no major buyer absorption yet
The current setup looks like a descending triangle / flat support with lower highs.
Price broke slightly below the horizontal line around $2.17 — bearish structure breakdown if confirmed with follow-through
Price closes below $2.15, ideally under $2.10 on strong volume.
Would signal "failure to hold" the short-term range → leads to move toward next strong support at $2.00–$1.95
If $1.95 fails to hold on daily close → next leg lower to:
- $1.61 (38.2% Fib) — strong buy level
- Possibly even $1.29 in a broader flush-out (only if Bitcoin also drops)
*Drop your comment or thoughts on XRP
**REMEMBER, everything is probability, nothing is investment advice. Educational only!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.