š After that insane surge earlier this month, $XRP has been doing a bit of a "sideways chop," and honestly, it's got us all wondering if this is a stealth setup for the next leg up or just a cooling-off period.
š Here's the Lowdown:
* Current Price: $3.114
* The Hold: Bulls are still defending that crucial $3.00 support level, which is good to see!
* Momentum Check: But let's be real, the momentum is kinda fading. XRP is trading below its 9-day SMA ($3.2460), which has now flipped to short-term resistance. Weak volume too. It feels like the market's just holding its breath.
š§ What We Saw Yesterday (and Got Right!):
* We pointed out $3.30 as the key breakout level needed to target higher, and guess what? That breakout didn't happen. ā
* Just like we thought, it stayed range-bound between $3.00 and $3.14. š
* And that $3.00 support? It's holding strong, preventing a slide to $2.80 or even $2.44, which we warned about. š
š Technical Talk (keeping it simple):
* RSI, ADX, MACD: These are still leaning bullish, suggesting the bigger trend is up.
* CCI, Bull/Bear Power: But for the short-term, we're seeing some weakness. Bears have a slight edge.
* The Chart: The long-term trendline from April is still intact (yay!), but those short-term candles are shrinking, and volume's drying up. Classic indecision, folks!
š So, What's Next for XRP?
* Upside Capped: Unless we see a clear close above $3.25, it feels like the upside is kinda capped for now.
* Danger Zone: BUT, if XRP closes below $3.00, we could see a pretty sharp slide. Be ready!
š§ Scenarios to Watch TODAY:
* š¼ Bullish Play: If those bulls step up and reclaim $3.30, then we're looking at targets of $3.65, potentially pushing to $3.82!
* āļø Neutral Play: Most likely, we might just see more choppy action between $3.00 and $3.14 as things cool off.
* š½ Bearish Play: A break below $3.00 could send us down to $2.80, or even $2.44. Keep those stop-losses tight!
Let me know below! š
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