XRP – 30-Min Short Trade Setup !📉🚨
🔹 Asset: XRP – Crypto Market Cap
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown (Rising Wedge Reversal with Fibonacci Retracement)
📊 Trade Plan (Short Position)
✅ Entry Zone: Below $144.00B (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $145.89B (Key Resistance Level)
🎯 Take Profit Targets
📌 TP1: $139.90B (0.5 Fibonacci Level)
📌 TP2: $137.33B (0.618 Fibonacci Level - Strong Support)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$145.89B - $144.00B = $1.89B risk per trade
📈 Reward to TP1:
$144.00B - $139.90B = $4.10B (1:2.2 R/R)
📈 Reward to TP2:
$144.00B - $137.33B = $6.67B (1:3.5 R/R)
✅ Favorable Risk-Reward Ratio toward TP2
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakdown: Price action shows bearish momentum, signaling a potential pullback.
📌 Fibonacci Confluence: The 0.5 and 0.618 Fibonacci retracement levels align with strong support zones.
📌 Resistance at $145.89B: A rejection from this level confirms the bearish setup.
📌 Volume Confirmation Needed: Look for high selling volume below $144.00B to validate the breakdown.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong selling volume below $144.00B before entering.
📉 Trailing Stop Strategy: Move SL to break-even ($144.00B) after hitting TP1 ($139.90B).
💰 Partial Profit Booking Strategy
✔ Take 50% profits at TP1 ($139.90B), let the rest run toward TP2 ($137.33B).
✔ Adjust Stop-Loss to Break-even ($144.00B) after TP1 is reached.
⚠️ Risks & Considerations
❌ Fake Breakdown Risk: If the price reclaims $144.00B, exit early.
❌ Confirmation Required: Wait for a 30-min candle close below $144.00B before entering.
🚀 Final Thoughts
✔ Bearish Setup – Strong downside potential.
✔ Fibonacci & Wedge Breakdown – High confluence.
✔ Favorable Risk-Reward Ratio – 1:3.5 toward TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📉
🔗 #XRP #Crypto #ShortTrade #TradingView #ProfittoPath 💰📊
