7.7 Tuesday XRP Afternoon Thoughts


The rebound brought by the recovery of US stocks overnight is just a trap-induced repair. XRP passively followed Bitcoin throughout, with severely insufficient upward momentum. It is a profit-taking market after the positive factors have been priced in.
Technically, the $1.12-1.15 area above is a strong resistance zone, with dense overhead supply from previous trapped positions. Multiple attempts failed to break through with volume. The 4-hour MACD shows bearish divergence, with red bars continuously shrinking, and bullish momentum is consistently weakening.
Operation suggestion: on a rebound to 1.135-1.145, go short, target 1.12, if broken then see 1.10$ETH $BTC $SOL
ETH2.55%
BTC2.81%
SOL2.68%
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