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$XRP pretty bearish phase lately, but I'm seeing some hints of consolidation that could signal a turnaround soon. For trading on 1-hour timeframe, I'm leaning towards a cautious long here, mainly for a potential bounce play.
On the volume side, those recent candlesticks show big spikes when prices were dropping—like that huge 74.78 million volume which screams capitulation to me. But then, during the little bounces, volume dips way down, so maybe the selling pressure is finally starting to let up.
Capital flows aren't looking great overall—net outflows in spot (-90.9 million) and contracts (-39.1 million) over the last 24 hours, which definitely points to ongoing bearish vibes. That said, zooming in on shorter intervals, like the 15-minute chart, there's some small inflows popping up (around 180k), which makes me think things might stabilize a bit.
Entry long
$XRP : I'd jump in around that solid support zone between 2.084 and 2.090 USDT, especially if I spot a nice reversal pattern like a hammer or bullish engulfing candle backed by decent volume.
Set a stop loss at 2.02 USDT, that's about 4% below entry, factoring in the ATR at 0.0212 and current volatility.
Aiming
$XRP : for 2.185 USDT as the main target (close to the 24h high), or scale out at the Resistance level around 2.1745 if it hits resistance there.
Anyone else eyeing XRP for a short-term flip?
#xrp #XRPUSDT