$XRP Bearish Setup ๐
I'm leaning bearish on XRP at current levels, and here's why:
1. Price is trading directly into a major 4H Fibonacci resistance zone.
This area has already rejected price in the past, making it a logical place for sellers to step in again.
2. Weak follow-through after multiple attempts.
Despite several pushes higher, XRP has struggled to secure a strong breakout above resistance. Repeated tests often signal exhaustion from buyers.
3. Risk-to-reward favors downside.
Current price is sitting close to resistance while the nearest meaningful support lies much lower. The downside opportunity outweighs the upside potential from here.
4. Relief rally inside a broader range.
Until XRP can produce a decisive breakout and hold above the resistance zone, this move looks more like a relief bounce than the start of a new trend.
My View:
As long as XRP remains below the highlighted resistance area, I see a higher probability of a rejection toward lower support levels before any sustainable move higher.
The best shorts are usually taken where everyone starts getting bullish. ๐
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