$XRP MAJOR CORRECTION - BEAR TRAP OR CONTINUATION?
Current Price: $2.8539 (-5.15%)
MARKET OVERVIEW
XRP is experiencing heavy selling pressure with a -5.15% decline from recent highs. The token has broken below key support levels and is testing critical demand zones. Massive volume indicates institutional repositioning, suggesting this could be a major trend shift.
KEY LEVELS
RESISTANCE ZONES
Primary: $2.9000 - Immediate resistance and previous support
Secondary: $2.9500 - Key recovery level
Strong: $3.0323 - 24h high and major barrier
SUPPORT ZONES
Immediate: $2.8387 - Current support test
Key: $2.8117 - 24h low and critical floor
Major: $2.7500 - Next major support zone
TRADE SETUPS
BEARISH SCENARIO
Entry: Break below $2.8117 with volume confirmation
Target 1: $2.7500 (-3.6%)
Target 2: $2.7000 (-5.4%)
Target 3: $2.6500 (-7.1%)
Stop Loss: $2.9200 (+2.3%)
BULLISH SCENARIO
Entry: Reclaim above $2.9000 with strong volume
Target 1: $2.9500 (+3.4%)
Target 2: $3.0000 (+5.1%)
Target 3: $3.0500 (+6.9%)
Stop Loss: $2.8000 (-1.9%)
RISK MANAGEMENT
Position size: 1-2% of portfolio
High volatility expected - use wider stops
Wait for clear directional confirmation
Consider DCA approach for long positions
XRP is in a critical correction phase. A break below $2.8117 could accelerate selling toward $2.75. Only a strong reclaim above $2.90 would signal potential reversal. Current momentum favors further downside.