SHORT TERM analysis scalp/swing idea 
2025-01-12
Category: None

Oh boy.... I don't typically trade short I feel like I'm betting against my investments but I think this needs to be said .... 
 CRYPTOCAP:XRP  had a beautiful price spike yesterday if you got in and snagged it, yay you, enjoy your bag 💰 

Upon analyze charts this morning I'm seeing some disturbing bearishness upon us. But with all the crazy price action yesterday I think it needs to cool so we can move forward and sustain new highs. 
 Support Levels :

The immediate support level lies around 2.3873. A break below this level could trigger further downside.
 
The next significant support level is around 2.3154.

 Moving Averages :

The 20-period and 50-period moving averages are sloping downwards. If the price continues to decline and breaks below these moving averages, it could signal further bearish momentum.

 Bollinger Bands: 

The price is currently trading below the lower Bollinger Band. If the price remains below this band for an extended period, it could indicate a continuation of the bearish trend.

Overall Market Sentiment: A bearish sentiment in the broader cryptocurrency market could exacerbate the decline in XRP.

Personally I have a short order triggering at $2.4850 with a STOP loss set at 5.52 and a take profit at $2.30, $2.25, and $2. 

I would be cautious entering any new long positions above $2.50, let Monday morning come before making any hasty decisions. Rather have fomo than loss imo. 

None of what I say should be considered financial advice. Just the outlook of a second set of eyes. Do your own research. Take what reasonates, leave the rest. 

All my love ❤️ 