Short

XRP/USDT 1H: Distribution Phase Nearing Completion ?!

XRP/USDT 1H:Analysis
🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!
Current Market Structure:

Price trading at $2.39 within a bearish structure, showing a clear distribution pattern.
RSI at 38.06, with hidden bearish divergence signaling continued selling pressure.

Smart Money Concepts:

Institutional selling evident within the $2.50-$2.60 range, now acting as resistance.
Current price action suggests Smart Money is accumulating at lower levels, likely targeting a liquidity sweep below $2.30.

Key Levels:

Resistance: $2.50 (previous support turned resistance).
Support: $2.30 (major liquidity level).

Risk Score:

8/10 – High risk due to bearish continuation signals and potential volatility near key levels.

Market Maker Intent:

Distribution phase appears to be ending, with price targeting liquidity below $2.30.
Expect potential manipulation and a reversal only after significant accumulation at lower levels.

Recommendation:

Avoid long positions until $2.50 is reclaimed.
Monitor for a sweep below $2.30 for possible reversal signs.
High-risk environment; tight risk management is crucial.

Confidence Level:

8/10 on bearish continuation with further downside expected.

🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!

Cryptokijker

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.

Cryptokijker