$XRP recent 1.38% recovery isn't a natural rebound it likely just following $BTC surge past $90k. The overall trend remains bearish, and any price increase toward $2.00 would be seen as a gift to short sellers.
🔹 Weaknesses:
Lack of Demand The OBV indicator failed to create new highs, confirming weak buying pressure.
Long term holder are selling, and spot ETF inflow are drying up.
Since the sharp drop in October, XRP has created lower highs. Moving averages have crossed in the bearish direction.
🔸 Selling Zone:
The $1.90 level is currently a challenge. Even if the bulls regain the $1.95-$2.05 support zone, this remains a very strong bearish point.
Trader are advised to sell on price bounces. The lack of natural demand makes it highly unlikely that the price will break above $2.05 (resistance).
With the price bouncing solely on BTC but the OBV indicator remaining sideway and LTH orders being placed, is the price surge to $2 a breakout opportunity or a perfect bull trap for short selling?
Information and research from Trading Insight are for reference only and not investment advice. Please read carefully before making any decisions.
