$XRP

*🚀 XRP Technical Analysis: A Bearish Outlook 📈

🎯 XRP is exhibiting clear signs of weakness as it approaches the long-term descending trendline. A strong bearish reaction was observed on May 14th, with a thick-bodied candle rejecting directly off the trendline. Since then, the price has struggled to revisit the trendline, failing to even tap it again.

🌟 *Key Observations:*

- *Repeated Upside Wicks:* XRP has been leaving repeated upside wicks, suggesting aggressive sell orders are filling around the 1.27 extension.

- *Hidden Bearish Order Block:* The 1.27 extension is believed to be defended by a hidden bearish order block, absorbing buyers before a full retest of the trendline.

- *Short Bias:* The price action reinforces the short bias, with a setup targeting a break below $1.95.

📌 *Trading Strategy:*

- *Entry:* Below $2.22

- *Stop Loss:* $2.2675

- *Take Profit:* $1.95

*Disclaimer:* This analysis is for educational and informational purposes only and does not constitute financial advice. Always do your own research and consult with a qualified financial professional before making any trading decisions.

💡 *Current Market Data:*

- *Current Price:* $2.27

- *24h Change:* +2.19%

- *Market Cap:* $133.96B

- *24h Trading Volume:* $1.83B ¹

Keep in mind that cryptocurrency prices are subject to high market risk and price volatility. It's essential to stay up-to-date with market developments #and adjust your strategy accordingly.