From the chart you uploaded, XRP is currently in a short-term stabilization period after a series of large bearish candles. The temporary low of 2.0831 shows some signs of support, but the overall structure remains weak, and there are no obvious reversal signals technically.
Trend structure interpretation:
The moving averages EMA5/10/30/60 are showing a step-like downward pressure, indicating that the overall trend is still within a downward channel.
The SAR points continue to be above the candlesticks, which is a typical confirmation of an upward trend.
The Bollinger Bands are opening downward, and the candlesticks are continuously close to the lower band, indicating that the inertia of the bearish trend has not been fully released.
However, after temporarily holding at 2.08, a low-level sideways pattern emerged. If a stop-loss reversal pattern appears (such as an early hammer/inverted hammer combination), a technical rebound is expected.
Operational strategy suggestion:
Directional tendency: leaning towards a low-level rebound, but the space is limited; risk control is needed when trying to catch a rebound.
Currently, it is not advisable to chase the market, but one can speculate a small rebound in the 2.08~2.09 range, setting strict stop-loss limits.
Current price: 2.100
First support level: 2.145
Filling the gap of the bearish candlestick near the jump, which is also the breakout area of the previous small support platform.
Second support level: 2.175
Close to the middle Bollinger Band position, also the EMA30 moving average resistance point
Stop-loss level: 2.078
Breaking below yesterday's low indicates that the inertia is still continuing; one should decisively exit.
