$XRP Trading Update (2024/12/12)

Key Observations:

1.Bearish Momentum:

Breaking below $2.39 opens the path for the price to test lower support levels, such as $2.35 or even $2.30.

2.Increased Selling Pressure:

The failure to hold $2.44 and subsequent breach of $2.39 highlights strong selling activity.

3.Volume Confirmation:

If the drop is accompanied by high selling volume, it strengthens the bearish case.

Next Support Levels to Watch:

❤️ $2.35: First significant support; monitor for potential buying interest or a bounce.

❤️ $2.30: Key psychological and technical support zone.

Trading Plan:

🟢 If Already Long:

🛑Tighten your stop-loss or consider exiting, as the trend is weakening.

🚪If Looking for Entry:

🛑Avoid long positions until the price stabilizes and shows signs of reversal near a key support level.

🛑Look for a bullish confirmation pattern (double bottom or hammer candlestick) at $2.35 or $2.30.

🔴If Shorting:

📊 Consider a short position with a target around $2.35, keeping a tight stop-loss just above $2.40

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