XRP Evening Analysis:

Recently, when looking at the short-term trend of XRP, several key levels need to be monitored closely. First, let's talk about resistance; $3.05 is a hurdle, as it is the upper band of the Bollinger Bands on the 4-hour chart. If it can break through, it might trigger short sellers' stop-loss orders, allowing the price to rise further. Next, there's $3.15, a level that has been tested many times without success. If it can break through this time, it could open the path to $3.22.

Support levels should not be overlooked either. $2.95 must be maintained, as this is the position of the EMA20 moving average on the daily chart. If it cannot hold, it is highly likely to retrace to $2.83, as this is the support from the July high. The strongest support at the bottom is $2.80, which corresponds to the annual low of exchange balances, serving as a psychological defense line for many.

Additionally, there are several potential risks for short sellers to watch out for. One is technical divergence; the price is rebounding, but trading volume is shrinking. If $3.05 cannot be broken, a double top structure could form, leading to an easier decline later. Another risk is linked to Bitcoin; if BTC falls below $115,000, XRP may be dragged down to $2.90. There’s also the issue of selling pressure from large whales; addresses holding 100 million to 1 billion XRP have reduced their holdings by 280 million in the past 7 days. The pressure from these profit-takers has not fully dissipated yet, so caution is warranted.

XRP Suggestion: Short near $3.0211-$3.0385, with targets around $2.9758-$2.9522. #XRP