KingPain06

$XRP



Hey Binance Square fam! 👋 XRP (XRP/USDT) has been on a rollercoaster ride, and we're here to break down the latest developments! From failed hidden divergence to a potential regular divergence, let's see what the charts are telling us! 🕵️‍♂️
What's the XRP Rundown? 🧐
Looking at the 1-hour chart from MEXC, we can see that XRP has experienced a significant drop, breaking below the forming wedge pattern. Here's a breakdown of the key points:
* Failed Hidden Divergence: The hidden divergence on the 4-hour timeframe, indicated by the purple arrows, did not play out as expected. This resulted in a stop-loss being triggered. 📉
* Normal 4H TF: The 4-hour timeframe now shows a normal bearish trend, with both price and OBV (On-Balance Volume) making lower lows, indicated by the blue arrows. 📊
* Potential Regular Divergence: The 1-hour timeframe shows a forming regular divergence, with price making a lower low and OBV making a higher low, also indicated by the blue arrows. 🔄
* Zone of Interest: The $2.30 zone is identified as a zone of interest/liquidity zone. This is a crucial level to watch! 👀
* Potential Entry: The analyst suggests waiting for a sweep to complete around $2.30 or taking a chance at this level. A move back up creating a regular divergence would signal a potential long entry. 🚀
Decoding the Divergence 📊
Divergence occurs when the price action and an indicator move in opposite directions. Hidden divergence suggests a continuation of the current trend, while regular divergence suggests a potential trend reversal. Understanding these concepts is crucial for trading decisions. 🧠
Key Points to Remember 📝
* Divergence Analysis: Divergence can provide valuable insights into potential trend reversals. However, it's not always accurate. 📊
* Zone of Interest: The $2.30 zone is a crucial level to watch. Keep an eye on price action around this level! 👀
* Confirmation is Key: Wait for confirmation of the regular divergence before entering a long position. Don't jump the gun! 🚦
* Risk Management: Always use stop-losses to protect your capital. The crypto market is highly volatile, so manage your risk wisely. 🛡️
Friendly Reminder: Always DYOR! 🧐
Remember, this is not financial advice. Trading involves risks, and you could lose money. Always do your own research and consider your risk tolerance before entering any trade. The crypto market is highly volatile, so stay informed and trade responsibly. 🧠
Let's Chat! 🗣️
What are your thoughts on XRP's potential regular divergence? Do you think it will hold the $2.30 zone? Share your insights in the comments below! 👇
That is another chance to get in Long! 🚀🌕
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