XRP – Narrow range, selling pressure dominates, looking to Short at resistance area
Current price: ~$2.14
XRP is oscillating in a downward-leaning accumulation zone after a recent upward move. The price has been continuously rejected around the $2.17–$2.18 area, indicating that short-term selling pressure remains strong. Volatility is sensitive to movements from BTC.
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🔹 Spot Strategy:
⛔ No Spot recommendation at this time. The medium-term trend is unclear, and there is a risk of buying at the short-term peak.
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🔸 Future Strategy:
1. Short (preferred if approaching resistance):
• Entry: 2.178
• SL: 2.200
• TP: 2.095
🟠 Probability: 65%
📌 The price has been rejected multiple times in this area. Can look to Short if a reversal candle or weakening buying signal appears.
2. Long (only open if there is a strong rebound signal from support):
• Entry: 2.085
• SL: 2.030
• TP: 2.165
🟢 Probability: 40%
📌 Only suitable if there is a clear price reaction around $2.08. If it breaks below $2.03, the trend will shift sharply bearish.
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⚠️ Warning: XRP reacts quickly to news waves, especially if related to the SEC lawsuit or news from Ripple Labs. Need to closely monitor BTC and the overall market before entering a position.
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⏱ Update: 15/6/2025 – 07:10 GMT+7