XRP · 1H · DOWNTREND
Both targets from the short published on October 21st — 1.2900 and 1.2600 — were reached and the move completed cleanly. That setup is done. Price has since pushed marginally lower, printing a low of 1.2546, and is now trading at 1.276 with the last closed 1H candle at 1.2773. The daily trend is down, lower highs and lower lows intact, and the news context reinforces the weakness — XRP is underperforming despite the Ripple/DTCC tokenization headline and Franklin Templeton's $200M deployment on the XRP Ledger. Fundamental catalysts aren't moving price right now. I'm not chasing a fresh short at current levels: the move that started from 1.3400 has already printed both targets, and a re-entry here gives me no clean structural edge. I'm looking for either a relief bounce back into a zone I can short with conviction, or a breakdown below the 1.2546 low that opens the next leg.
SHORT (CONDITIONAL) SCENARIO
Confirmation
1.2900
On a rally to the 1.2900–1.3000 zone, a 1H close back below 1.2860 confirms the rejection and bearish continuation.
Invalidation
1.3200
A 1H close above here rebuilds structure and breaks the lower-high sequence off the 1.2546 low.
Target 1
1.2400
Next structural objective below the 1.2546 flush low; the 1.26 dense liquidation cluster is a waypoint already spent, so the measured move from the 1.34 breakdown targets this area.
Target 2
1.2100
Extended structural objective if 1.2400 gives way.
Risk/Reward
(1.2860 − 1.2400) / (1.3200 − 1.2860) = 0.0460 / 0.0340 = 1.4:1
Resistance: 1.2900–1.3000 zone / 1.3200
Support: 1.2546 / 1.2400
This is not financial advice. Content is AI-generated.