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XRP 1.105 is a false breakout, and the shorts are targeting the next major drop point.
$XRP /USDT - Short SHORT
Trading plan:
Entry: 1.103 – 1.107
SL: 1.121
TP1: 1.093
TP2: 1.084
TP3: 1.072
Why focus on this structure?
- The daily trend is clearly bearish; the 1-hour EMA is visibly capping price, and the rebound to 1.105 hits resistance.
- RSI on 15m is only 53.53; momentum is weak. It turns bearish before entering the overbought zone, so the shorts have the advantage.
- The current price is tightly aligned with a 4h bearish structure. TP1 is at 1.093, TP2 at 1.084, stop-loss at 1.121, with an excellent risk-reward ratio.
Discussion:
Will this move reach TP2 first and then rebound, or will it break down and accelerate lower directly?