$XRP Price Action Update 🚦🔴
$XRP has recently encountered a significant resistance barrier and is exhibiting a pronounced rejection, suggesting a weakening of buying interest at current highs. The presence of long wicks and bearish pullback candles indicates substantial selling pressure. Momentum appears to be shifting, and the price structure is signaling a potential downward move.
Should $XRP fail to overcome this resistance area, a more substantial decline towards a lower support range is anticipated. This price action—characterized by rejection, a slowdown in upward momentum, and a clear bearish setup—aligns with what we typically observe in a fading bullish trend.
seems to be positioning itself for a potential move towards the next zone of liquidity below.
Potential Trade Parameters:
• Entry Zone: 2.2250 – 2.2300
• Take Profit 1: 2.1850
• Take Profit 2: 2.1650
• Take Profit 3: 2.1450
• Stop Loss (SL): 2.2480
