$XRP /USDT: Significant Decline – Testing Support Amid Bearish Sentiment
XRP/USDT is trading at $1.3987, experiencing a sharp 7.35% drop over the past 24 hours. The price is under bearish pressure as it approaches critical support levels, with high trading volumes reflecting market caution.
Key Data Points:
24h High: $1.5243
24h Low: $1.3732
24h Volume (XRP): 824.38M
24h Volume (USDT): $1.19B
Trade Strategy:
Long Position: Enter above $1.4200, targeting $1.5000 and $1.5500. Set a stop loss at $1.3700.
Short Position: Enter below $1.3700, aiming for $1.3000 and $1.2500. Set a stop loss at $1.4200.
Market Outlook:
XRP/USDT is testing support near $1.3700. A successful rebound from this level could initiate recovery toward $1.5000. However, continued selling pressure below $1.3700 may extend losses to $1.3000. Traders are advised to monitor momentum and volume for clearer signals.