$XRP Current Trend: Bearish with consolidation near support
๐ Technical Indicators Overview:
1. Volume Analysis: Recent candles show declining volume during the consolidation phase, indicating potential exhaustion of selling pressure.
2. Capital Flows: Significant net outflows across all timeframes (24h: -40.4M USDT, 7D: -326.6M USDT). This substantial capital flight indicates strong institutional selling but may be approaching exhaustion.
3. Price Action Context:
The asset has experienced a severe decline from highs above 3.10 USDT to current levels near 2.00 USDT. Recent price action shows consolidation near multi-month lows with several rejection candles around the 2.00 psychological level. The long lower wick on recent daily candles suggests some buying interest at these levels.
#xrp #XRPUSDT Direction: Cautious Long (Counter-trend play)
๐Entry Zone: 1.98-2.01 USDT
๐๏ธStop Loss: 1.90 USDT
๐ฐTargets:
Primary: 2.14 USDT
Secondary: 2.25 USDT
