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