XRP / TetherUSShort
XRP/USD – Bearish Outlook with Key Levels to Watch
📌 Key Support & Resistance Levels:
🔹 0.618 Fib – Major Support Level
🔹 0.5 Fib – Primary Support Entry
🕵️♂️ Market Structure & Technical Outlook:
The monthly candle has formed a bearish engulfing pattern, rejecting the high at $3.40. This signals that the market has likely found a local top, increasing the probability of a retracement before further downside movement toward the $1.40 liquidity zone.
As we approach the monthly close, a close below the 0.382 Fib level would confirm further downside after a potential retest.
📉 Market Bias:
✅ Bearish until the gap between 0.5 and 0.618 Fib is filled.
✅ Any short-term pumps are likely bull traps rather than trend reversals.
🎯 Trading Strategy & Risk Management:
🔹 Short-term: Trade range flips, avoid heavy long positions.
🔹 Spot Swing Entries: Wait for breakdown levels in the $1.50 range before considering a buy.
🔹 If in a spot trade: Consider selling at resistance and re-entering lower.
🔹 Short Setup:
Low leverage (1.5x-2x) with a wide stop-loss.
Target lower Fib levels (0.618 - 0.5) for entries.
⚠️ Key Levels to Watch for Daily Close:
🔻 Below $2.21 → Confirms bearish continuation.
🔺 Above $2.21 → Possible retrace to $2.60, but likely a liquidity grab before further downside.
🔮 Conclusion:
I remain bearish on XRP and prefer short setups over long positions for the next two weeks. The focus remains on lower targets before considering any major long entries.
📊 What’s your view? Comment below! 👇
🔹 0.618 Fib – Major Support Level
🔹 0.5 Fib – Primary Support Entry
🕵️♂️ Market Structure & Technical Outlook:
The monthly candle has formed a bearish engulfing pattern, rejecting the high at $3.40. This signals that the market has likely found a local top, increasing the probability of a retracement before further downside movement toward the $1.40 liquidity zone.
As we approach the monthly close, a close below the 0.382 Fib level would confirm further downside after a potential retest.
📉 Market Bias:
✅ Bearish until the gap between 0.5 and 0.618 Fib is filled.
✅ Any short-term pumps are likely bull traps rather than trend reversals.
🎯 Trading Strategy & Risk Management:
🔹 Short-term: Trade range flips, avoid heavy long positions.
🔹 Spot Swing Entries: Wait for breakdown levels in the $1.50 range before considering a buy.
🔹 If in a spot trade: Consider selling at resistance and re-entering lower.
🔹 Short Setup:
Low leverage (1.5x-2x) with a wide stop-loss.
Target lower Fib levels (0.618 - 0.5) for entries.
⚠️ Key Levels to Watch for Daily Close:
🔻 Below $2.21 → Confirms bearish continuation.
🔺 Above $2.21 → Possible retrace to $2.60, but likely a liquidity grab before further downside.
🔮 Conclusion:
I remain bearish on XRP and prefer short setups over long positions for the next two weeks. The focus remains on lower targets before considering any major long entries.
📊 What’s your view? Comment below! 👇
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.