📈
$XRP : "The Calm Before The Drop?" 🐍
🚀 Current Price Action:
XRP just completed a textbook V-shaped recovery from the local bottom near 2.0343, spiking straight through resistance zones at 2.0456, 2.0607, and 2.0680 before facing rejection near 2.0882 – 2.0908, a known liquidity grab zone.
🧠 Pattern Recognition:
🔹 What we’re seeing now resembles a "Bull Trap" – an impulsive move up catching late longs, followed by slow distribution and a potential markdown.
🔹 The projected blue path is showcasing an Elliott Wave Corrective Flat or Head and Shoulders in formation.
🔹 Notice how price hits the key resistance area between 2.0882 – 2.0944 multiple times and fails to hold – a double top / exhaustion sign.
🔹 High wick rejections + slowing momentum = 🚨 caution for bulls.
📉 Next Probable Move:
Based on the chart:
👉 Price is likely to oscillate sideways between 2.0800 – 2.0940 in a distribution phase.
👉 Expect a sharp dump down to 2.0680 and even 2.0607.
👉 If selling volume picks up there, a full drop to 2.0450 – 2.0343 is on the table.
🔥 This aligns with a classic liquidity sweep of local lows after baiting longs.
🎯 Potential Trade Setup:
💰 Short Entry Idea:
🔸 Entry Zone: 2.0880 – 2.0920
🔸 TP1: 2.0680
🔸 TP2: 2.0600
🔸 TP3: 2.0450
🔸 SL: 2.0950 (tight structure break)
💰 Long Re-entry Idea (After Flush):
🔸 Buy Zone: 2.0340 – 2.0450
🔸 TP1: 2.0680
🔸 TP2: 2.0880
🔸 SL: 2.0280 (invalidation of structure)
📌 Summary:
XRP has pumped hard, but signs of exhaustion and rejection at resistance are clear. A scalp short could provide great risk-reward as the market looks to trap longs before dipping to reload zones. This is not a time to chase green candles 🚫, but to play the fade 🎭.
🧪 Indicators Confirming Bearish Divergence:
RSI overbought 📈
Strong wick rejections 🧊
Volume divergence 📊
🛑 Always manage risk. These setups are short-term, ideal for scalpers and intraday swing traders.
#XRPPredictions #BinanceSqaure 🚀