📉 $XRP /USDT Technical Analysis: Searching for a Bottom?

The 4-hour chart for XRP shows a sustained bearish trend after hitting a local high of $1.6070.

The price is currently hovering around a critical support zone.

Here is the breakdown:

🔍 Market Observations:

Trend: Lower highs and lower lows characterize the current structure.

XRP has dropped nearly 2.71% in the last 24 hours.

Current Price: $1.3225

Support Zone: The immediate support is at $1.3184. If this level fails to hold, we could see a further slide toward the $1.25–$1.28 psychological range.

Resistance: The first major hurdle for a reversal is the $1.43 level.

A breakout above this with volume would be the first sign of a bullish recovery.

💡 Trading Strategy:

Bearish Scenario: If the price breaks and closes a 4H candle below $1.3184, expect the downward momentum to continue.

Bullish Scenario: Look for a "Double Bottom" or a strong bullish engulfing candle at these current levels. A move back toward $1.49 is possible if the market finds liquidity here.

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🚩 Key Levels to Watch:

Immediate Support: $1.3184

Major Resistance: $1.4310 / $1.4944

24h High/Low: $1.3726 / $1.3184

Caution: The market remains volatile. Always use proper risk management and set your Stop Loss (SL) to protect your capital! 🛡️

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