🔥 $XRP stuck in this consolidation phase with a bit of a bearish vibe hanging over it – not super aggressive, but you can feel the pressure. For trading daily timeframe, I'm cautiously bullish for counter trend.
Price-wise, we're seeing what looks like a double bottom forming around 1.85-1.87 from a couple weeks back. Got rejected hard at 2.368 recently, making a lower high, and now it's poking at the MA5 line which was support before but might resist now.
Looking at volumes, the latest K-line is showing a drop (around 6.27B compared to the usual 8B+), especially as prices dipped. That could mean sellers are starting to tire out, which is interesting.
On capital flows: Contracts are seeing steady outflows (-49.28M in the last 24h), mostly short-term stuff, like leveraged players pulling back. But spot side? Modest inflows (+6.55M), hinting that some folks are quietly stacking at these levels.
Whales seem optimistic though – long/short ratio at 2.0142, so big holders are leaning long despite the recent slides.
Entries longs $XRP : I'd dip in partially at the current 2.0899 (say 30% of position), add more around 1.98-2.02 if it tests that support (50%), and the rest on a breakout over 2.15 with some real volume behind it (20%).
Stop loss at 1.93, right below the key low.
Targets $XRP : First at 2.25, then 2.33
Why? Short-term momentum's meh, but with spot buying from institutions, that subtle bullish MACD divergence, and the double bottom setup, downside feels capped. The 1.93-2.02 area's a solid spot for a bounce, great risk-reward. Just watch if it closes below 2.05 on 4H – that'd kill the idea. #xrp #XRPUSDT