$XRP XRP This drop is really tragic! It has directly pierced through the $2 mark, and now at a price of $1.95, it feels as cheap as cabbage. This is no joke; it's clear that the bears are gaining strength!
Speaking of which, there are reasons for this drop. The support level from $2.05 to $2 was originally like a wall blocking the way, but it was punctured by the bears in one go.
Now, it's a mess; stop-loss orders are pouring out like they cost nothing, and the selling pressure has exploded instantly.
At this price of $1.95, it hurts just to look at it. The next support level must be seen between $1.85 and $1.90. However, on the flip side, indicators like RSI and MACD show that the selling pressure is nearing its limit, and maybe a rebound could happen at any time.
So what should we do now? My personal view is that you should definitely not rush to short; the market has already fallen enough, and it might rebound at any moment. If you have already bought, don't rush to cut losses; wait and see, you might find an opportunity to slip away between $2 and $2.05. If you want to bottom fish, you should also wait for the price to stabilize between $1.85 and $1.90 and look for clear rebound signals before taking action.
In short, this market situation is a test of patience and discipline. Don't get dizzy from the market's fluctuations; keep a clear mind to survive in this game.
Still not sure how to operate in this market? Follow me, I'll give you strategies, but execution is up to you!
