July 12
Currency: XRP
Risk warning, it has peaked, you can reduce your position.
I scanned the market today and saw that XRP was rising very well. I dug deeper and found that it was driven by news. But putting aside the news, we only look at the market. Although it is rising continuously, there are 3 pressure points above. The recent 0.47 has formed a support-resistance exchange and has been verified. The two pressure points above are the 288 moving average and the previous high 338 moving average. There is a high probability that it will not break. As before, the downward trend after the pin is inserted will be the expected trend.
XRP is an old copycat. This time it became popular due to the news, but the coin itself has always been tepid. Except for the official hype on X, there is no eye-catching performance. And the tradition of the coin circle is to speculate on new but not old, so it is difficult for XRP to have another round of explosion.
So it is recommended to reduce positions if you have positions.
Shorting is not recommended. After all, this coin has market sentiment now, and it is hard to say whether it will continue in the future. Be cautious in shorting. You can get on the bus after the retracement is over.
