Friends, Brother Yang is here to talk about the comprehensive analysis of XRP (Ripple) market. From a technical perspective, XRP has shown an 'MVRV Death Cross', which is a bearish signal, indicating that short-term holders may face losses, and the subsequent selling pressure could be significant. Moreover, XRP's spot trading volume has decreased by 23% in the past 24 hours, and derivatives trading volume has also dropped by 34%. It is evident that market activity is declining, and investors are becoming more cautious. However, the stochastic RSI is close to 14, nearing the oversold zone, so there may be a chance of a rebound in the short term.

Now let's take a look at the key support and resistance levels. XRP is currently facing a resistance level at 3.20, while the support level is in the range of 2.95 - 2.75. If it breaks below 2.75, it may further explore the 2.50 area. If buyers continue to hesitate and are reluctant to enter the market, XRP could even drop to 2.15.

Brother Yang gives a trading suggestion: consider shorting around the 2.9900 - 3.1000 area, targeting the 2.9600 - 2.9300 range. But everyone should be cautious, the market changes quickly, and this strategy has a time sensitivity, so be careful when trading! #xrp