$XRP My XRP Short Trade: Expecting $1000 dollars with $1000.
Targeting $1.50 or $1.20 with 5X Leverage
Hey everyone!
I’ve opened a short position on XRP at $2.20, and I’m aiming to take profits if it drops to around $1.50 or $1.20. I believe this trade will work because XRP is currently overbought, and the market sentiment looks bearish, meaning the price is likely to fall in the near term.
I’m using 5X leverage for this trade. If you want to try this strategy with $1,000, you would trade $500 worth of XRP with leverage and keep the other $500 in your account to balance the leverage and protect your position. This way, you can make the most of price movements without risking all your funds.
But overall, I’m confident this setup will work and I’m expecting a drop in price toward my targets of $1.50 or $1.20.
I’ll keep an eye on the trade and update you all as it progresses. Always remember to manage your risks when using leverage, and stay tuned for more updates!
