XRPUSDT → Hunting for liquidity ahead of a possible decline

8月5日

XRPUSDT.P is forming a downward market structure after a false breakout of global resistance. Bitcoin is in a correction phase and, after a slight rebound, may continue its movement...

Bitcoin has entered the sell zone. The price is consolidating below the global consolidation boundary of 115,500 during the retest, and if Bitcoin continues to decline, this could trigger a downward movement across the entire cryptocurrency market.
XRP is forming a bearish market structure. After capturing liquidity and a false breakout of resistance, the price is returning to a bearish trading range. There is no potential for continued growth at this time. A consolidation of the price below 3.00 - 2.996 could trigger further sell-offs.

Resistance levels: 2.996, 3.050, 3.181
Support levels: 2.996, 2.891, 2.74

The local bearish structure will be broken if the price starts to rise, breaks 3.050, and consolidates above it. In this case, XRP may test 3.181 before falling further.

At the moment, after a false breakout of resistance, the price is consolidating in the selling zone, and the downward movement may continue. I consider 2.74 - 2.655 to be the zone of interest in the medium term.

Best regards, R. Linda!

8月5日

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