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$XRP

In the last trading session, XRP/USDT has shown some interesting short-term movement on the 15-minute chart. After reaching a local high of 3.3512, the pair experienced steady selling pressure, breaking below the 7-period MA (yellow) and 25-period MA (pink), eventually touching a low of 3.2348.

At the time of writing, XRP is trading at 3.2527, up 0.95% from the previous close. The RSI(6) currently sits at 32.76, indicating that the market was recently in oversold territory and may be primed for a short-term relief bounce if buying pressure continues.

Key Observations:

Resistance Levels: The immediate resistance lies at the 7-MA near 3.2540, followed by the 25-MA at 3.2980.

Support Levels: Strong short-term support remains around 3.2348.

Volume Trend: Noticeable spikes in selling volume suggest profit-taking after the recent rally. However, recent green candles with decent volume hint at buyers stepping back in.

Potential Scenarios:

1. Bullish Bounce: If XRP breaks and sustains above the 7-MA, it could retest the 25-MA and possibly the recent high.

2. Bearish Continuation: Failure to hold above 3.2348 could open the door to further downside, testing the next support zone near 3.2197.

📊 Trading Tip: In volatile conditions like these, short-term traders often wait for confirmation of direction before entering positions. Watching RSI recovery alongside moving average crossovers can help identify a stronger trend shift.

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