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XRP has shown bullish candles over the past 24 hours, but recent price movements do not indicate a confirmed upward trend. Cryptocurrency analyst كاسي تريدز (@CasiTrades) explained that the current move is part of a broader pattern, as resistance levels are still strong, while the structure points to a bearish direction.
It pointed out that XRP’s price was unable to reach a new all-time high, and the five-wave pattern ended near the resistance level. This confirms a state of exhaustion rather than strength, suggesting that the temporary gains are merely fluctuations within the prevailing trend.
Don’t be fooled by the noise! XRP’s structure still indicates a decline! 🚨
We’ve seen some bullish candles over the past day... and I can already see some traders returning to the bullish trend (again). 👀 But this is exactly what traps traders!
The price failed to reach a new all-time high