The XRP crash has initiated a short-selling feast! 570,000 people have been liquidated, and shorts are making a fortune.
XRP is currently facing strong selling pressure, and the market's sell-off is continuing to spread, significantly affecting investor sentiment. According to the 4-hour candlestick chart, the Bollinger Bands are tightening, indicating a decrease in volatility in the short term, and the market seems to be entering a pattern of waiting for a breakout. The 7-day moving average has become the main resistance level, and the MACD fast and slow lines crossing has further intensified market uncertainty.
The consecutive downward pin bar patterns indicate that market sentiment continues to weaken, and the rebound potential for XRP is becoming increasingly limited. The current downtrend is still ongoing, and XRP is facing greater downward pressure. Considering the current technical trends, the rebound potential in the short term is becoming increasingly limited. Students must remain highly alert.
The market is full of volatility, with opportunities and risks coexisting. For experienced investors who seek opportunities from volatility, this is also a challenging moment. How to perceive market fluctuations and find the right entry points is something Mr. Qiu will bring more insights on; follow me to explore the endless potential of the market together!
