Early Morning XRP View: Mu Xin's Opinion is Still Bearish!

Family, let's talk about the XRP market this early morning. Let me make it clear upfront—my view remains bearish, not much has changed!

Currently, the entire XRP market is in a neutral sideways state, looking calm with no major movements, but there are quite a few signals hidden in the technical analysis. Although the current low volatility has limited the space for trend continuation, overall, the downward pressure is still dominant. Especially with the emergence of a Evening Star pattern on the chart, combined with continuously shrinking trading volume, these two together create a bearish resonance, so we need to pay close attention to the possibility of moving downward in the future.

Looking at specific indicators, the moving averages are currently tangled together, and the slope has also flattened, showing no clear direction; combined with the characteristic of the BOLL band being relatively narrow, it’s quite obvious that the market lacks momentum. In this case, the price is likely to oscillate back and forth within the support and resistance range, making it not easy to break through or fall below in one go.

Finally, let me share my operational thoughts: If you want to go long, you can pay attention to the area around 3.0500-3.0200 for opportunities to go long, with an initial target looking at around 2.9700 below. If it stabilizes and continues downwards, then look at around 2.9400.

However, in a sideways market, there are many variables, so remember to keep a close watch on the market after entering, set a good stop loss, and don't let volatility catch you off guard! #Xrp🔥🔥