$XRP /USDT – Struggles After a Sharp Drop: Can Bulls Regain Control?
Currently, $XRP is trading at $2.3742, down 10.27% from its 24-hour high of $2.7159, with strong selling pressure.
Key Levels to Watch:
Resistance: $2.50 – A breakout here could push XRP towards $2.65 and $2.80.Support: $2.20 – A breakdown below this could see further downside to $2.00 or $1.90.
Market Insights:
Parabolic SAR: A bearish trend is forming, indicating continued selling pressure.MACD: Weak momentum, with no clear signs of reversal yet.Volume: Declining, suggesting reduced interest in aggressive buying.
Trade Setup:
Long Entry: Above $2.50, targeting $2.65 and $2.80.Short Entry: Below $2.20, targeting $2.00 and $1.90.Stop Loss: Around $2.30 to manage risk.