XRPUSDT has been in a bearish trend for the past three weeks, forming lower lows and lower closes. On the daily chart, the price is currently consolidating within a key range between 0.62 and 0.50. As the market continues to move downward toward the lower end of this range, there is a strong possibility of a retest of the support area. The 0.550 level has been respected multiple times in the past, and if the market shows signs of rejection at this level, it could offer a good opportunity for a short trade, targeting a move back down to the bottom of the consolidation range. The target is the support zone around 0.50
Trade closed: stop reached
Price moved against the expectation of this setup
Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.
Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.