#CryptoTrading.

📊Technical Analysis (1 hour) $XRP /USDT

1. Price and Trend:

• Current price: 2.9901 USDT with a decrease of 2.18%.

• The chart shows a general uptrend with a peak around 3.1059, but the latest candles indicate a downward correction.

• The trend line (purple) confirms the downward movement from the local high.

2. Bollinger Bands (20, 2):

• The price is approaching the lower limit (2.9621), which may signal a possible support or further decline if this level is broken.

3. Volume:

• There is an increase in volume (peak 108M), accompanying the price decrease, which may indicate asset allocation or panic in the market.

4. MACD:

• DIF (-0.0076) and DEA (0.0035) with a negative MACD (-0.0111) show weak bullish momentum, which is turning bearish. Sell signal if MACD remains below the zero line.

5. Stochastic RSI:

• The value of 4.8215 (MASTOCHRSI: 3.8898) is in the oversold zone, which may indicate a possible rebound upwards if confirmed.

6. OI (Open Interest):

• The increase in OI (0.285M) during a price drop may signal short positions or new capital inflows that need to be monitored.

⚠️Conclusion:

• The short-term trend is bearish with potential support at 2.9621 (lower Bollinger Band).

• A rebound is possible due to oversold conditions (Stochastic RSI), but confirmation by volume and a breakout of the level is needed.

• It is recommended to watch the levels 2.9901 (current price) and 2.9621 for entry/exit.