Has the $5 price target been played yet?
Key points
XRP (xrp) reflects a well-known technical pattern that has historically been steeped in short-term price trends.
Expresses still focus on $5
XRP's three-day chart relative strength index (RSI) is posting low levels. In technical analysis, most analysts see this pattern as a sign of a rapid downward trend.
Two such distinct spikes have appeared in XRP's recent history.
The first prices lead to 69% before the start of prices before continuing their broad decline. The second one emerges at the end of 2023, with 49% of the provinces delaying the beginning after 49%.
Both examples show that XRRP often sees quick supports after a hidden bullish exchange signal, but those engines don't last long. In other words, this setup can create short-term profits, but not necessarily as significant exchange parties have started.
XRP fell 11.95% in the last 24 hours, reaching a low of $2.229 on Tuesday.
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He added
“$2.20 is the next support between 2025 and $2 if we close this range.”
The support area is from
For baby triangle triangle exce llama will make a profit of 115% from the current price levels.
This structure of XRP strengthens the initial ignition provided by the ability to exchange hidden bullies.
More than 695 million dollars at risk
Initial data shows a mismatch of recovery arising from long and short positions on XRP.
As of Tuesday, XRP's total short liquid coverage was $6.1 million compared to $32.1 million compared to $6.1 million. It indicates that the market reaching the short position is a bullish signal for the traders.
Most of the short sides' liquidity is concentrated between $2.60 and $3.50, which means that even the smallest solutions to this range can be small liquids or “short trips”.
Meanwhile, if the long run indicates that the October adjustment has already occurred, there is no short run below $2.16.
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The current setup indicates that if the price drops in the short term, they will continue to increase, even if they occur in relation to volatility.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
