XRP has been in a steady bullish run throughout July, but cracks are beginning to show. The price recently failed to hold above the key $3.66 resistance, and what once looked like a strong continuation setup now hints at exhaustion. Price action shows clear hesitation near the $3.60–$3.66 region, where multiple “Sell” (S) markers have emerged.
More importantly, the ascending trendline has been broken, and XRP is consolidating beneath it — often a sign of a shift in structure. A lower high has now formed, which could be the early warning of a short-term top.
If buyers can't reclaim the $3.43–$3.60 zone soon, XRP could enter a deeper pullback phase. The former support band between $3.02 and $3.05 is now being tested from below, and if this flips to resistance, further downside looks likely.
There’s a visible liquidity void below $3.00, and with XRP having rallied significantly, a retracement to retest deeper support zones wouldn’t be surprising. Areas like $2.80, $2.40, and even $2.00 are still untouched and could attract buying interest if panic kicks in.
📊 Trading Setup
• Entry (Sell): Around $3.43 (confirmed rejection)
• Stop Loss: Just above $3.66 (key resistance and invalidation zone)
• Target 1: $3.02 (minor support zone)
• Target 2: $2.40–$2.33 (stronger cluster with past reaction)
• Risk-to-Reward: Approx. 1:1.8 — favorable for swing short
The structure is now showing early signs of bearish reversal. The failure to break above $3.66, break of the trendline, and formation of a lower high all signal weakness. If XRP drops below $3.02 and holds there, it may trigger a more aggressive selloff toward mid-$2s. This short setup is valid as long as the price stays below $3.66 — beyond that, bulls might regain control.
Let me know if you want a continuation scenario or need this adapted for tweet threads or YouTube script.
More importantly, the ascending trendline has been broken, and XRP is consolidating beneath it — often a sign of a shift in structure. A lower high has now formed, which could be the early warning of a short-term top.
If buyers can't reclaim the $3.43–$3.60 zone soon, XRP could enter a deeper pullback phase. The former support band between $3.02 and $3.05 is now being tested from below, and if this flips to resistance, further downside looks likely.
There’s a visible liquidity void below $3.00, and with XRP having rallied significantly, a retracement to retest deeper support zones wouldn’t be surprising. Areas like $2.80, $2.40, and even $2.00 are still untouched and could attract buying interest if panic kicks in.
📊 Trading Setup
• Entry (Sell): Around $3.43 (confirmed rejection)
• Stop Loss: Just above $3.66 (key resistance and invalidation zone)
• Target 1: $3.02 (minor support zone)
• Target 2: $2.40–$2.33 (stronger cluster with past reaction)
• Risk-to-Reward: Approx. 1:1.8 — favorable for swing short
The structure is now showing early signs of bearish reversal. The failure to break above $3.66, break of the trendline, and formation of a lower high all signal weakness. If XRP drops below $3.02 and holds there, it may trigger a more aggressive selloff toward mid-$2s. This short setup is valid as long as the price stays below $3.66 — beyond that, bulls might regain control.
Let me know if you want a continuation scenario or need this adapted for tweet threads or YouTube script.
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.