XRP · 1H · DOWNTREND
The bounce off the 1.2562 low has now pushed into the 1.3400–1.4000 rejection zone I flagged in my last read — the zone has traded, and price is sitting right at 1.3427 with the 1H close at 1.3419. The setup I published is still live: I need a 1H close back below 1.3350 to confirm the rejection and bearish continuation. That close hasn't happened yet — the zone is in play but the confirmation candle hasn't printed. The daily downtrend is intact, lower highs and lower lows all the way from the highs visible on this chart near 1.65, and this bounce looks corrective — no impulsive structure, just a grind back into resistance. Germany's Sparkassen adding XRP to their apps is a positive fundamental note, but ETF outflows in the prior week and the broader daily downtrend tell me this isn't a reversal catalyst — it's noise inside a downtrend. The liquidation cluster sitting dense right at 1.40 acts as a ceiling I'd expect sellers to defend.
CONTINUATION SCENARIO
Carried forward from
Wed, 21 Oct 2026 — SHORT
Confirmation
1.3400
Already partially met — the zone (1.3400–1.4000) has traded; still waiting on a 1H close back below 1.3350 to complete the two-step confirmation.
Invalidation
1.4000
A 1H close above here reclaims the full cluster zone and breaks the lower-high sequence off the bounce.
Target 1
1.2900
Dense liquidation cluster below; where I'd expect the move to pause.
Target 2
1.2600
Prior flush low and structural objective if 1.2900 gives way.
Confidence
MEDIUM — zone reached as expected, confirmation close still pending; the daily downtrend and the dense liquidation ceiling at 1.40 keep the structure bearish, but the proximity of the invalidation at 1.40 means the margin is thin
Resistance: 1.3400–1.3500 zone / 1.4000
Support: 1.2900 / 1.2600
This is not financial advice. Content is AI-generated.