This wave of XRP correction doesn't look very good. From the 1-hour chart, after the price surged to 2.1610, it then sharply declined and now drops to 2.0906, breaking through key support levels MA5 (2.0905), MA10 (2.0990), and MA20 (2.1073). The RSI(6) is only 43.5389, indicating a neutral to slightly weak bias. The MACD histogram has started to appear green, with the DIF(-0.012) and DEA(-0.015) showing a significant divergence, which suggests that the bulls' momentum is clearly insufficient, and signs of the main force pushing the price down are becoming more evident.
Short-term strategy: The current price of 2.0906 can directly open a short position, with a stop-loss placed above the previous high at 2.1610 for safety. The first target is 2.0712 (the lowest price in 24 hours). If this key level is broken, look further down to the previous low at 2.0650. The trend position must be firmly held and not shaken. Short-term traders are advised to take profits in stages at resistance levels and be alert to whether the main force might accelerate the dump by breaking support levels, potentially smashing through these supports in one go.
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This wave of XRP correction doesn't look very good. From the 1-hour chart, after the price surged to 2.1610, it then sharply declined and now drops to 2.0906, breaking through key support levels MA5 (2.0905), MA10 (2.0990), and MA20 (2.1073). The RSI(6) is only 43.5389, indicating a neutral to slightly weak bias. The MACD histogram has started to appear green, with the DIF(-0.012) and DEA(-0.015) showing a significant divergence, which suggests that the bulls' momentum is clearly insufficient, and signs of the main force pushing the price down are becoming more evident.
Short-term strategy: The current price of 2.0906 can directly open a short position, with a stop-loss placed above the previous high at 2.1610 for safety. The first target is 2.0712 (the lowest price in 24 hours). If this key level is broken, look further down to the previous low at 2.0650. The trend position must be firmly held and not shaken. Short-term traders are advised to take profits in stages at resistance levels and be alert to whether the main force might accelerate the dump by breaking support levels, potentially smashing through these supports in one go.