XRP Approaches Key Resistance! Short Opportunities Arise? Beware of Sudden Fluctuations in the South Korean Market!
Technical Analysis
Current Price 2.1733, Bollinger Band Position 83.8% (Upper Band 2.1833), Close to Overbought Zone; Price Below MA200 (2.2008) and Holding Cost (2.1941), Indicating Mid-Term Pressure. 24-Hour Trading Volume Shrinking (Volume Ratio 0.58), Volume-Less Rebound Suggests Insufficient Momentum. Order Book Shows Heavy Selling Pressure Near Current Levels (Sell Orders Totaling 558,000 USDT), Resistance Focused at 2.1829-2.1856 (370,000 USDT Sell Orders), Support Located at 2.1621-2.1529 (Buyer Liquidity Dense Area). Open Interest Increased by 2.42% in 24 Hours but Long-Short Ratio Plummeted (1.95→1.73), Strengthening Short Dominance.
Market Cycle
Mid-Stage Adjustment in Bull Market, 7-Day Drop of 4.26% Has Not Changed Long-Term Uptrend (Annual Increase 342%), Short-Term Fluctuation Leaning Bearish.
Trading Strategy
• Short: Entry at 2.1733 (Current Price) or 2.1800 (Conservative)
• Stop Loss: 2.1860 (Breaks Bollinger Upper Band)
• Target: 2.1550 (Buyer Liquidity Area)
• Risk-Reward Ratio: 1.44 (Based on Current Price)
Risk Warning
① South Korean Policy Events May Trigger Abnormal Movements (Sensitive to the Sector); ② Break Above 2.1860 Will Trigger Short Squeeze; ③ Position ≤2%, Avoid Low Liquidity Periods.
> Summary: XRP Technicals Under Pressure, Short on Rallies with Risk-Reward Ratio of 1.44, Keep a Close Eye on the 2.1860 Defense Line!
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