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XRP long positions are being cleaned out—are you brave enough to catch a falling knife?
$XRP /USDT - Short
Trading Plan:
Entry: 1.1112 – 1.1160
SL: 1.1362
TP1: 1.0966
TP2: 1.0853
TP3: 1.0684
Why focus on this structure?
- The 1D trend is clearly bearish; RSI on 15m is only 37.36, and the bearish momentum hasn’t been exhausted.
- The entry zone at 1.1136 is tight against EMA resistance, with far more room to the downside than for a bounce.
- This is a bearish continuation window, not a good time to buy the dip.
Discussion:
Will it hit TP1 first at 1.0966, or smash straight through TP2 at 1.0853?