Here’s a Binance Square–style breakdown for a short position on XRP/USDT, tailored for traders looking to follow the downtrend:
📉 #XRP /USDT – FOLLOW THE DOWNTREND
Current Price: ~3.25 USDT
Trend: Clear bearish bias — price has rejected near 3.60 and continues downward pressure
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Key Levels:
Entry Zone: Short below 3.40–3.50, ideally after confirming rejection
Initial Support (TP1): 3.10 (first major zone)
Take Profit (TP): 3.0200 — low-risk zone before next structural support
Secondary Supports: 2.85, 2.70—levels that could halt the drop
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FXStreet
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Market Sentiment:
Bearish technical setup with upper wick rejection around 3.60
TradingView
Failure to hold above 3.45–3.60 worsens the downtrend
TradingView
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Derivatives positioning slightly tilted toward shorts
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🔧 Trade Plan
Short Entry: ~3.40–3.45, or on a bounce/rejection at that range
Stop Loss: Above recent swing high at ~3.60, ideally around 3.65
Take Profit: Primary at 3.0200, then scale out near 2.85–2.70 if momentum continues
✅ Why This Works
Classic “sell the bounce” setup — rejection candles around 3.60–3.65
TradingView
Downtrend supported by technical structure and funding patterns favoring shorts
coinalyze.net
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Bitcoin News
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Aligns with the wisdom: "Do
n't fight the trend"—trend following historically yields better edge