$XRP /USDT – Short Trade Setup Under Heavy Selling Pressure

Current Market Overview:

XRP is exhibiting a strong bearish setup on the 15-minute chart. The price has been making lower highs and lower lows, breaking through key supports with aggressive selling. The recent drop to $3.00 marks a fresh low, and the momentum still favors the downside.

The Relative Strength Index (RSI) is trending below 30, indicating oversold conditions. The price is also below the 50-period moving average, confirming the bearish trend.

A descending triangle pattern is forming, characterized by lower highs and a horizontal support line. This pattern suggests a continuation of the downtrend upon a breakdown below support.

Trade Plan – Short Setup:

Ideal Entry: Enter a short position between $3.06 and $3.10 on a minor pullback after the recent drop.

Stop Loss: Place the stop loss just above the last minor resistance, around $3.13, to protect against a deeper correction.

Target 1: Set the first target at the recent support zone near $3.00.

Target 2: Aim for the next major support around $2.97.

Risk-Reward:

Target 1: Approximately 2.5x reward compared to the risk.

Target 2: Approximately 4x reward if the correction extends further.

Probability of Profit:

High (~70%): If Bitcoin and the broader market stay weak.

Moderate (~50%): If Bitcoin bounces sharply, short trades could face risk, so market sentiment must be monitored closely.

Note: Avoid chasing the move. Wait for a small bounce toward the entry zone to reduce risk.