XRP · 1H · DOWNTREND
Price has been grinding lower since the late July spike to 1.1650, printing a clear sequence of lower highs and lower lows on this 30m/1H view. The current price at 1.0690 is sitting right on the horizontal floor that's acted as a congestion zone multiple times across this entire chart — roughly the 1.0600–1.0700 band. Every bounce from this zone has been sold, and the most recent rally attempts from late July into early August have been progressively weaker, confirming sellers are in control. The news context supports a risk-off crypto tone with Coinbase stock down hard and year-to-date losses accelerating — that's a negative backdrop for XRP. I'm not interested in a long here until this zone proves it can hold with actual follow-through. My lean is short on the next failed bounce into resistance.
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SHORT SCENARIO
Confirmation
1.0800
Rejection at 1.0800–1.0850 resistance with a close back below 1.0760 confirms bearish continuation.
Invalidation
1.0950
Structure invalidated above 1.0950 — a close there shifts the lower high sequence.
Target 1
1.0550
Prior swing low and lower boundary of the congestion band.
Target 2
1.0400
Next visible structural low on this chart.
Risk/Reward
(1.0760 – 1.0550) / (1.0950 – 1.0760) = 0.021 / 0.019 ≈ 1.1:1
Resistance: 1.0800–1.0850 / 1.1000
Support: 1.0600–1.0650 / 1.0400
This is not financial advice. Content is AI-generated.