Market Overview:
XRP is trading at $2.13, showing a decline of 10.50% in the last 24 hours. The price has fluctuated between a high of $2.35 and a low of $1.96, indicating significant bearish pressure. Current trader sentiment reveals 62% shorts and 38% longs, reflecting a bearish market bias.
Support and Resistance Levels
• Support:
• $2.00 (immediate support, psychological level)
• $1.96 (critical support, recent low)
• Resistance:
• $2.20 (short-term resistance)
• $2.35 (stronger resistance from the recent high)
Trading Strategy
• Stop Loss: Set at $1.95 to protect against further downside.
• Entry Point: Near $2.05, targeting a rebound trade.
• Exit Points: Partial profit at $2.20; full exit at $2.35.