XRP / TetherUSUpdated XRPUSDT is testing the demand zone
XRPUSDT is creating a descending channel pattern on the 4-hour timeframe after facing rejection from the weekly resistance level at 0.54$. This indicates that the market is currently in a bearish trend, with the price making lower highs and lower lows within the channel.The price is now testing the daily demand zone in the 0.45$ area, which is a critical support level. If the price manages to break below this level, it may indicate further downside potential. However, if the price creates a clear breakout above the 0.48$ area and retests it as a new support level, it may signal a potential bullish reversal.
According to Plancton's rules, a new long position may be considered if the price creates a clear breakout above the 0.48$ area and successfully retests it as new support.
n summary, XRPUSDT is currently in a descending channel pattern on the 4-hour timeframe after facing rejection from the weekly resistance level. The price is testing a critical daily demand zone at the 0.45$ area, and a clear breakout above the 0.48$ area and successful retest as new support may signal a potential bullish reversal.
Note
Waiting for the breakout 
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