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Is XRP building up a large-scale short trap?
$XRP /USDT - Short SHORT
Trading plan:
Entry: 1.0778 – 1.0810
SL: 1.0952
TP1: 1.0676
TP2: 1.0597
TP3: 1.0478
Why focus on this structure?
- The 4-hour moving averages are arranged bearishly; the 1-day trend is clearly bearish, but the RSI on the 15-minute chart has fallen to 34.65, close to the oversold zone.
- Current price is 1.0794, right at the 1-hour support zone. If it breaks 1.0778, shorts will accelerate toward TP1 at 1.0676.
- Why now? Short-term oversold conditions may trigger a rebound, but under pressure from the primary trend, any rebound is a chance to add shorts.
Discussion:
Do you think this leg will hit TP2 at 1.0597 first, or will it bounce to lure buyers before getting smashed?