$XRP /USDT Bearish Rejection from Highs
The XRP 15-minute chart clearly shows a bearish rejection. The price was strongly repelled after testing the high of $2.1498, resulting in a swift and aggressive sell-off back towards recent lows. This price action signifies that the resistance is strong and the short-term trend is bearish.
Trade Setup
Entry Range: $2.1250 - $2.1350 (Short entry on a minor bounce back towards the breakdown zone).
Target 1: $2.1085 (The level of the previous swing low/immediate support).
Target 2: $2.0800 (A lower support and consolidation zone).
Target 3: $2.0244 (The 24-hour low).
Stop Loss (SL): $2.1450 (Place the stop just below the high of the failed breakout attempt).
Short Outlook of Market
The short-term outlook for XRP is definitively bearish. The strong rejection at resistance suggests significant selling pressure. A continuation of the downtrend is anticipated, with the price likely testing the support at $2.1085 and potentially aiming for the 24-hour low.
