XXRP Trading Strategy
On the 4-hour level, XRP forms lower highs (around 2.856) + lower lows (around 2.835) structure, establishing a short-term bearish channel. Yesterday's flash crash was accompanied by a surge in trading volume to 656.1 million, far exceeding the daily average, confirming institutional selling pressure.
Technical outlook is bearish: MACD is in the bearish zone and momentum is weakening, RSI is below 50, indicating a short-term advantage for bears; 14-day RSI is neutral, with no overbought or oversold signals, suggesting consolidation.
Trading suggestion: Short near 2.8705-2.8935, target 2.8382-2.7973$BTC