XRP · 1H · DOWNTREND

Price has been in a clear downtrend since the mid-January highs near 1.40, printing lower highs and lower lows across the entire visible chart. The most recent leg down from the 1.30 spike on the 16th has accelerated the structure, and price is now chopping right at the 1.06–1.07 zone — an area that has acted as prior consolidation support. The live news confirms XRP's RSI just hit a 13-year low, which tells me the asset is deeply oversold on a macro basis, but oversold can stay oversold in a downtrend. Price at 1.0646 is sitting right on the dotted horizontal line visible around 1.065 — a level that has been tested multiple times on the far left and is now acting as the last significant structural floor before the 1.00 round number. I'm not fading this downtrend with a long just because RSI is low — I want to see price stabilize and base before committing. The better trade here is to wait for a bounce into resistance and short the rejection, because every rally in this structure has been sold hard.

Setup: SHORT (conditional)

- Entry: 1.0800 — on a bounce into the 1.08 resistance zone and confirmed rejection

- Stop Loss: 1.0950

- Take Profit 1: 1.0400

- Take Profit 2: 1.0000

- Risk/Reward: 2.7:1

- Confidence: MEDIUM