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3X Short XRP Token

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XRPBEARUSD trade ideas

XRP Poised for Critical Breakout Amid Key Resistance Levels Ripple’s XRP has been navigating a defined range over recent months, marked by consistent rejections and support zones that traders should be paying close attention to. The current weekly chart reveals a consolidation pattern with key levels acting as critical indicators for potential future price movement. Key Technical Insights: Current Trading Range: XRP/USD is trading near $0.589, holding within a rectangular range that spans from approximately $0.497 to $0.665. This range has persisted since mid-2023, showcasing a repeated cycle of buying and selling pressure. Potential Breakout Indicators: A close above the $0.665 level, which aligns with the first “SELL Stop 1” threshold, could pave the way for a rally towards higher resistance levels, notably around $0.742 and $0.852. These points mark historical pivots where significant rejections occurred. Volume Dynamics: The recent uptick in volume hints at growing interest, suggesting that a decisive move could be on the horizon. Traders should monitor if this surge in volume accompanies a break of the current range or signals another false breakout. Downside Risk – Key Supports to Watch: On the downside, the $0.497 mark is highlighted as a critical “SELL Zone” but carries a caution of potential bounce. A weekly close below this level would likely lead to further downward momentum towards the $0.439 “BUY ZONE,” providing a potential entry for long-term positions. Conclusion: Investors and traders should be vigilant as XRP approaches these pivotal levels. The confluence of past trading behavior and heightened volume indicates that the cryptocurrency may soon break out of its months-long consolidation phase. While an upside breakout could propel XRP towards $0.742 and beyond, caution is warranted as reversals within the current range remain possible.
COINBASE:XRPUSDLong
by FocusedTraders
2
Extremely ugly invh&s currently in play on XRPUSDI have placed the measured move/breakout target line rather arbitrarily here. It wouldn’t surprise me if price action had a pullback or correction to reset some of the indicators before actually breaking above the neckline in which case the measured move breakout line(dotted line) would most likely need to be readjusted lower than where I’ve arbitrarily placed it here iin the process lowering the breakout target as well. Always a possibility that it doesn’t correct in between now and reaching the target though in which case we are looking at a target somewhere around 89-93 cents. I know many who only consider bukowski’s textbook version of an inverse head and shoulders to be one will have their skepticism about such an ugly looking example of an inverse head and shoulders, but n my experience it is the ugliest and most asymmetrical examples of inverse head and shoulders patterns that seem to have the highest percentage of being validated and reaching their full breakout targets. *not financial advce*
BITSTAMP:XRPUSD
by DrDovetail
XRPUSDIf you followed this setup with us, you are still doing well. If not, here's an update: We are still in this trade and have cut some profit. This helped out tremendously with the Gold oversight and we'll hold the last position to completion. If you have not moved your trailing stop up please do so now depending on where your entry is. Ours was at .51402 and .52395 with a stop at .48629 which was moved to.52395 to cover the last entry. Next week we'll be taking a low risk approach moving toward the holidays but rest assured we will be on standby for all good looking opportunities that present themselves! T.Y.L.A.
BITSTAMP:XRPUSD
by FreeForexPips
Getting thereThis a just a simple idea of what could happen. Not necessarily the exact blue line 1-5, I am in favor or the orange line moving downward. We have seen typically that there is a bull trap right before launch. I expect a major rejection off the black line downward trend line like we have seen a downward wedge shaping. However the biggest picture we know is the 7 year triangle forming for a major pump. Keeping a bag for potential break and preparing funds for a major move downward to load up. If this breaks and does a rapid move upwards we will scalp in, but I don’t believe this is the major move just yet. Good luck and have fun with it.
COINBASE:XRPUSD
by Ncard137
1
A 80% correction to 10 cents in 2024 for XRP?For exactly seven years XRP price action has been trading inside a defined range as shown by the green arrows. A long or short position from those areas would have been excellent. For the last two years price action has traded inside an uptrend channel. The channel support has now failed with confirmation. Red arrow. The failed support follows the double top in price action where market market structure previous broke in April 2022. Orange arrow. 30 cents is the next support level to test now that price action has exited the channel. Should that support not confirm, 10 cents is next. Is it possible price action enters the channel and continues the uptrend? Sure. Is it probable? No. Ww
BITSTAMP:XRPUSD
by without_worries
156
XRP Full Analysis With Long-Term Support & Resistance + Pre...Here is what I did, I plotted the Fib. retracement levels for the entire chart since the bear-market. The entire bullish wave from the June 2022 low all the way to the July 2023 high. The levels are shown on the chart. This is long-term and these are strong levels and signals. XRPUSD is trading weekly below 0.618 Fib retracement relative to the bullish wave just mentioned above, more than a year long. This is the blue line on the chart. Below this level/line, this pair's bearish potential is really strong and a crash can happen anytime. This support was lost last week. This level is set at $0.53952. To keep it simple, bullish above and bearish below. Or I should say, bullish potential is stronger above this line and the potential for another drop is more likely below it. XRPUSD is trading below. The next support and level is 0.786 Fib. retracement with a price tag of $0.42848. This price range, resistance and support, has been valid since March 2023 and has been activated many times; will it break? The chart says yes based on long-term bearish action; lower highs since July 2023 and support being challenged over and over. The more it is challenged, the weaker it becomes. Recent action is coming out of a major lower high and trading volume is low. The next level is 1 Fib. retracement but this is too low, we are likely to find support higher but the chart is saying down. Conditions for changed have been mentioned above (if XRPUSD moves above 0.53952 the bulls become action; bearish below). Thank you for reading. Namaste.
BITSTAMP:XRPUSDShort
by AlanSantana
1