6.27 Is the current rebound of XRP an illusion or a chance to escape?
Summary of yesterday's market (June 26)
Yesterday, XRP was overall in a bearish consolidation pattern, with little fluctuation throughout the day. However, there was a rapid drop in the evening, falling from a high of about 2.22 to around 2.10. From a technical perspective, multiple attempts to rise have failed, indicating heavy selling pressure above, and the bearish dominance remains strong.
The intraday low reached 2.09, and the closing price was basically flat, showing a pattern of rising and then falling, with shrinking volume and insufficient market confidence.
Technical Analysis
Four-hour chart: Structural characteristics: The short-term rebound to 2.22 faced resistance, forming a "false breakout," and fell back again.
Support and resistance: 2.05 is the short-term support; if it breaks down, it may further explore the bottom.
One-hour chart: K-line arrangement: Multiple bearish candles cross the mid-line, and the lower band of the Bollinger Bands opens again.
Short-term signal: The rebound is low in volume, indicating weak recovery, and may continue to decline.
XRP Strategy and Level Settings
Direction: Mainly bearish, short-term can be short
Opening position: 2.1
First take-profit level: 2.07
Second take-profit level: 2.04
Stop-loss level: 2.15
