XRP sees long positions hunted and a sharp reversal; here’s what can come next

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The daily timeframe charts of XRP have been bearishly biased since late October The range formation in early November was respected, but another wave of selling is expected XRP traded within a range after […]

has been extremely still in recent days. A breakout toward or past $18.2k for BTC could trigger a shift in sentiment across the altcoin market. Until then, it remained likely that shorting any bounces in price would be profitable.Source: XRP/USDT on TradingView

This bounce saw XRP form a bearish order block, a region dominated by sellers. Combined with the bearish market structure on the daily timeframe, it indicated that a revisit to this region of resistance was likely to face rejection once again.

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