$XRP Technical Analysis & Trade Signal 🚨
Chart timeframe: 1H
Current Price: 2.3549 USDT
Change: -1.05%
Technical Breakdown:
XRP just faced a sharp rejection from 2.4844, forming a bearish engulfing structure followed by consistent red candles. The 7MA (2.3879) and 25MA (2.4071) are now both pointing downward, signaling near-term bearish momentum. Price is now sitting just above the MA99 (2.2939) — a crucial support zone.
RSI (6): 24.40 — Deep in oversold territory.
Stoch RSI: 0.0000 — Maxed-out oversold, likely due for a bounce.
MACD: Bearish crossover with increasing downside momentum.
Volume: Elevated selling pressure confirms a strong short-term dump.
Trade Signal & Strategy:
Short-Term Play: XRP is entering a technical oversold zone, a bounce is likely within the next few candles, but confirmation is key.
Entry Idea: Watch for a bullish reversal candle on 15m or 1h before entering long.
Buy Zone: 2.32 – 2.34 (only on reversal signal)
🎯 Target 1: 2.41
🎯 Target 2: 2.46
❌ Stop Loss: 2.29 (below MA99 support)
Summary:
XRP has dropped sharply into oversold territory. Momentum suggests temporary relief is coming, but this bounce should be treated as a scalp opportunity — not a long-term hold just yet. Wait for confirmation before jumping in. Smart traders remain patient — bounce or breakdown, both setups are forming.
