When the retail investors are panicking and cutting losses, the smart money is quietly bottom fishing—XRP has fallen below $3, is it a trap or a golden opportunity? I am Long Ge, and today I will help you see through the truth of XRP!
Market Situation: It's painful to watch the drop, but don’t panic!
XRP fell below $3 today, hitting a low of $2.93, a decrease of 4.5%. The entire market is also declining, with Bitcoin and Ethereum unable to hold up. From a technical perspective, XRP has broken below the 20-day and 50-day moving averages, the MACD has crossed bearish, and the RSI has dropped to 42, indicating short-term weakness. But here comes the key point—this drop is accompanied by massive trading volume, which means some are selling off, while others are buying in!
Key Support and Resistance Levels
Life and Death Line: $2.85, breaking below this may lead to a drop to $2.7 or even $2.4, but the probability is low.
Reversal Signal: $3.3, breaking through here, XRP can take off again, targeting $3.5 to $3.7!
Long Ge's Viewpoint: A drop is an opportunity!
The fundamentals are still intact: Ripple's cooperation with pharmacy payment systems is in place, the SEC lawsuit is ending, and the long-term bullish logic remains unchanged.
Large funds are accumulating: 77% of people on Binance are still going long, institutions may be buying up at low prices due to panic.
Historical Patterns: The monthly RSI of XRP is close to an explosion point, and it has previously risen by more than 10 times on the last two occasions!
Operational Suggestions
Conservatives: Buy in batches at $2.8-$2.9, stop loss at $2.5, target $3.3.
Aggressive: Chase the rise after breaking $3.1, add positions at $3.3, stop loss at 3%.
Short-term Experts: Monitor the $2.85 support, short if it breaks, and go long on the rebound.
When others are fearful, you should be greedy. Is this drop of XRP a pie or a trap? #加密市场回调
Bull markets are fleeting; what you lack is never opportunity, but the courage to pull the trigger! Follow Long Ge, let me assist you.
