XRP · 1H · DOWNTREND

Price has been in a relentless downtrend since the May 15 high near 1.5500, printing consistent lower highs and lower lows across the entire visible range. The most recent leg accelerated hard into the 1.20–1.24 zone with a volume spike — the largest on the chart — confirming sellers are in full control. Price has bounced slightly off that flush low but I'm reading this as a dead-cat recovery, not a reversal. The structure is bearish until I see a confirmed higher low form above a clearly established swing low.

Setup: SHORT

- Entry: 1.2600 (first meaningful resistance on the current bounce)

- Stop Loss: 1.2780

- Take Profit 1: 1.2200

- Take Profit 2: 1.1800

- Risk/Reward: 2.2:1

- Confidence: MEDIUM