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$XRP pushing hard in a bullish direction, but I'm picking up some overbought signals that make me pause. I'm still staying cautiously bullish here, but with tight risk controls—no room for slip-ups.
Looking at volume, those recent candles are thinning out—from a solid 169M down to just 147K as it hits near the highs. Feels like the upward push is starting to fizzle a little.
Capital flows are interesting: contracts are pulling in big money, with +58M USDT over 24 hours and +63M in the last 7 days. On the flip side, spot market's seeing heavy outflows—-39M in 24H and a whopping -148M over 7D. This kind of split screams futures speculation to me, not so much genuine spot buying driving things.
*Entry wise longs
$XRP : I'd hold off for a pullback to that 2.33-2.35 zone (where Support and MA5 line up) and wait for some bullish bounce confirmation.
If you're aggressive, maybe dip in with a tiny long at current prices, but slap on a tight stop—super high risk.
Stop loss: Go for 3-4% below entry, landing around 2.30-2.32
Targets
$XRP : Aim first for Resistance at 2.4322, then push to next resistance at 2.4755
RSI is off the charts high, and that volume drop-off points to a likely short-term dip. Trend's still your friend upward, but the risk-reward screams for patience or smaller positions.
#xrp #XRPUSDT