Market Summary:
An overextended price spike has been identified in $XRP , creating a short-selling opportunity. The asset has surged into a key resistance zone near 3.12, with momentum fading on lower timeframes. Price action indicates exhaustion after a steep vertical rally — a setup that often precedes corrective moves. Early selling activity suggests traders are positioning ahead of a potential pullback.
📉 Trade Setup:
Entry Zone: 3.105 – 3.120
Take Profit 1: 3.045
Take Profit 2: 3.010
Take Profit 3: 2.965
Stop Loss: 3.125
📊 Technical Outlook:
XRP/USDT is showing signs of forming a short-term top after a parabolic rise. RSI is firmly in overbought territory, and the price has tapped into a historical supply zone. Unless bulls can break and hold above 3.125 with strong volume, a corrective phase is likely.
A confirmed breakdown below 3.090 could trigger increased selling pressure and accelerate the move toward lower targets.
Current Price: $3.3518 (+12.41%)
#XRPUSDT #ShortSignal #BearishSetup #TechnicalAnalysis #CryptoTrading
