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$XRP Currently around 1.348 USDT.
Do you think we should keep grinding higher here, or is it about time for a pullback?
If I had to give a quick conclusion, I’d lean more towards: after a rally, first do a shakeout.
Here’s my main reasoning:
First, the order book shows some signs of slowing momentum; chasing aggressively isn’t worthwhile.
Second, the buying pressure isn’t strong enough; there’s still a lack of momentum for a breakout.
To add one more point, TP1 targets 0.8R, TP2 targets 1R, and the remaining position follows the 5-minute EMA20 to protect profits.
A more comfortable entry point: 1.358 USDT.
Estimated target price: 1.278 USDT.
Stop-loss reference: 1.391 USDT.
But the biggest risk at this level is that the resistance level gets broken through with high volume.
If you were trading here, would you buy first and watch a bit longer, or just stay out altogether?