xrp📉📉
Here’s a potential trade setup for XRP/USDT based on the 1-hour chart:
Short-Term Trade Setup:
Bias: Bearish (Short Setup)
Entry: $2.3850 - $2.3950 (If price retests resistance)
Stop Loss: $2.4250 (Above recent swing high)
Take Profit:
• TP1: $2.3450
• TP2: $2.3100
Confirmation for Short Entry:
• The price is currently trending below the 7 MA (2.3970) and 25 MA (2.4130), indicating weakening momentum.
• The previous peak at $2.4751 suggests a local top was formed.
• If price retests the $2.3850 - $2.3950 zone and gets rejected, it could confirm the short trade.
