xrp short
2025-01-05
Category: None

XRP Analysis

The chart for XRP shows a clear bearish setup:
	•	Rising Wedge Breakdown: XRP has been trading in a rising wedge pattern, which is typically a bearish formation. It has now broken below the lower trendline, signaling downward momentum.
	•	Moving Average Crossover: The price is moving below the short-term moving average, further supporting a bearish trend.
	•	Volume: Selling pressure is increasing, as indicated by the recent volume spikes during the breakdown.

The next potential target for XRP could be around $2.1551, with further downside possible toward the support zone at $2.0244. Traders should watch these levels closely for potential price reactions.

