šØ XRP: Short Trade vs Long Trade ā Whatās the Market Saying? šØ
$XRP XRP is currently trading at $2.03, showing slight movement today. So, what are the possibilities for both short and long trades?
š“ Short Trade Insights:
Weak Weekend Demand: XRP has faced significant volatility with weekend trading volumes weak, which might continue to apply pressure. ā¬ļø
Open Interest Surge: With a rising open interest of $3.6 billion, some traders are betting on a potential downtrend. A sharp correction could test the support levels at $1.85. ā ļø
Bearish Patterns: XRPās price may follow a bearish inverse cup and handle pattern, signaling a possible 25% drop in the short term. š
$XRP š¢ Long Trade Insights:
Bullish Reversal Signals: Technical analysis shows that XRP could see a breakout above $2.24, possibly aiming for $3.50 in the next bullish phase. š
Regulatory Boost: Recent regulatory clarity regarding crypto is supporting XRPās upward potential, with a favorable settlement potentially sending it to $3.55 or higher. š
Network Activity: The increasing activity on XRPās network suggests strong investor confidence, potentially supporting price growth. š
$XRP āļø Whatās the Best Move for You?
Short-term outlook: Be mindful of potential corrections if youāre considering a short trade.
Long-term potential: If you're holding for the future, XRPās strong fundamentals and positive market sentiment may be rewarding in the long run.
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