📢 $XRP : Update! 🚨 Bulls 🐂 battling Bears 🐻 at a crucial point! What's the next move? 🤔
Looking at the $XRP daily chart 📈, it's slammed into a strong resistance zone + trendline resistance where it's been smacked down 🩸 multiple times.!
This time, momentum and the overall market are looking bullish 💪, but bulls NEED to smash through this major barrier at $2.3700 to reach for the upper levels 🚀.
Now, zooming into the 4-hour chart 🔎, we've spotted a Rising Wedge 📉 – a bearish pattern 🐻. It's currently facing rejection from the pattern's trendline resistance, hinting at a possible drop towards the base 🩸.
The current setup suggests a short trade opportunity! This resistance looks tough for the bulls 🚀 to conquer with both horizontal and trendline resistance stacked in the same zone. Double trouble! 🚧
Short Trade Plan 📉
Entry on pullbacks: $2.34 - $2.32 🎯
Targets:
$2.2845 🎯
$2.2610 🎯
$2.2365 🎯
Stop Loss (SL): Just above $2.3550 🛑 to protect against a breakout 🚀.
Ride the wave Wisely 🌊! Consider a short position with a tight stop loss. If it rejects as Expected, profits could be sweet 💸. If it breaks above $2.3700, a small loss is the price of being wrong, and then we'll look for long opportunities 📈. Good luck, traders! 👍
What's Your Take Here ??
