$XRP ’s recent climb past $1 might be short-lived as a bearish Gravestone Doji candlestick signals a potential 40% plunge. A TradingView analyst predicts a fall from $1.11 to $0.66, citing multiple bearish indicators:
📉 Key Bearish Signals:
Gravestone Doji Pattern: A classic signal of trend reversals, showing sellers overpowering buyers.
RSI Breakdown: $XRP is overbought, pointing to exhaustion in upward momentum.
MFI Decline: Funds are flowing out of $XRP , weakening bullish pressure.
Bollinger Bands Breakout: Trading outside the bands increases the probability of a correction to $0.73.
🔍 Market Sentiment:
Despite bullish sentiment dominating, contrarian signals suggest a looming correction as buyer exhaustion sets in.
💡 What to Watch:
Critical support at $0.73
Resistance near $1.11
Monitor volatility as narrowing Bollinger bands signal tightening price action.
📢 Takeaway: XRP investors should remain cautious as bearish signals dominate the charts. Prepare for potential downside and manage risks effectively.
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