XRP · 1H · DOWNTREND

The short from my October 31st read never triggered — price never rallied back into the 1.2860–1.3000 entry zone. Target 1 at 1.2400 was reached on the move down, which is consistent with the bearish structure, but since the confirmation never fired, the record counts that as untriggered. The setup is still alive in structure terms: the daily trend is a clean sequence of lower highs and lower lows, and nothing on this 30m/1H window challenges that. Price is sitting at 1.2538, compressed in a tight range between roughly 1.2400 and 1.2600 for the past several sessions after a sharp flush to the 1.2000 area. The consolidation looks like distribution, not accumulation — I'm not seeing any higher lows forming with conviction, just a chop that's holding below every resistance zone that matters.

The entry I want is still the same structure: a rally back into resistance, then a rejection close. The 1.2860–1.3000 zone is still the first meaningful overhead supply, and nothing has changed about the setup — it's just waiting for price to give me the zone to fade. Funding is modestly positive (longs paying shorts), which tells me the crowded side is still long in a downtrend — that's fuel for another leg down when this consolidation breaks. The liquidation clusters below at 1.2100 and 1.1600 are the obvious magnets on a continuation.