7.8 Wednesday XRP afternoon thoughts


XRP current price $1.09, 24-hour drop of about 2.7%, intraday surged but faced resistance then oscillated lower. Overall market risk aversion heats up, funds withdraw from derivatives market. Combined with EU compliance news triggering a 'sell the fact' event, volume also shrinks, buying support lacks follow-through.

Technical key levels are clear. Short-term resistance at $1.13–$1.15, only if it holds can the weakness be repaired. Core support at $1.08, strong defense below at $1.05. Once effectively broken, the price will further test the $1 mark. Daily indicators are weak, only a small oversold bounce opportunity exists, but no reversal signal yet.
Operation suggestion: go long first then short. Go long at 1.080-1.085, target 1.10; if it breaks, see 1.12. Upon reaching the target, reverse to short, target 1.08$BTC $ETH $SOL
BTC-1.52%
ETH-2.06%
SOL-4.43%
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