$XRP down 6.5% on the week but holding above the 200MA at $1.33 RSI at 38 on the 1d — oversold territory everyone's calling it dead classic setup for the next leg up when sentiment flips

$XRP Setup | SHORT XRP has lost its footing after a clean breakdown below the $1.38 support zone. The 1-hour chart shows price getting rejected at the EMAs, and momentum is clearly bearish. I am watching for a retest of broken support before considering continuation. Trade Plan Direction: Short Entry Zone: $1.3450 – $1.3550 Stop Loss: $1.3780 TP1: $1.3180 TP2: $1.2900 TP3: $1.2500 Why This Makes Sense • XRP closed below the critical $1.35–$1.38 support band, flipping this area into resistance. The 50-EMA at $1.40 and 100-EMA near $1.34 are now overhead caps, reinforcing the bearish structure. • The daily RSI has dropped to around 40, showing weak momentum without yet signaling an oversold bounce. MACD remains below the zero line with no bullish crossover in sight. • A long-to-short ratio of 2.32 means leveraged longs heavily outnumber shorts. If $1.32 fails, forced liquidations could accelerate the drop toward $1.28 and potentially $1.25. • Despite institutional news like Standard Chartered's RLUSD custody deal, ETF inflows have slowed to roughly $12 million this month—about 75% lower than September. Risk Note This is a momentum short in a market that can squeeze hard on any headline. The upcoming XRPL protocol upgrade on October 23 and Ripple's Swell conference on October 27–29 are potential catalysts that could trigger a sharp reversal. Keep position size small, respect the stop loss, and do not chase entries far below $1.34. #MooDCirCuiT What do you think? Would you take this setup, or wait for a confirmed retest of $1.38 before entering? ‍$XRP

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