$XRP
Currently, the overall structure of XRP remains weak. Since the peak at 2.87 on August 31, it has continued to decline, with a minimum pullback to 2.70, and in the short term, it is still deeply trapped in a downward channel. Although the price has recently bounced back to 2.81, it has not been able to break through the key resistance level of 2.84, and the signs of a weak rebound are very evident.
What is more concerning is that the decline has been accompanied by a sustained increase in volume, especially when the market was hammered near 2.70, where the bearish forces were unleashed in full force. Although this rebound has brought a certain amount of volume, in terms of rhythm, it resembles more of a technical correction after short covering, rather than a true reversal. In other words, this may just be a brief respite before the storm.
I personally suggest entering in the range of 2.82-2.86, with a target looking down at 2.75-2.70, and if it breaks, looking at 2.66, with a medium to long-term target of 2.2!
