XRP Might Break Above - But It Doesn't Look Great

XRP is an interesting asset to watch, following it's crazy pump back in July of this year.

XRP's price has been relentlessly swatted down from a Fair Value Gap Zone between $0.5371 and $0.5578. This Fair Value Gap was created all the way back in May of 2022 during the market-wide selloff.

We can see very cleary that everytime XRP's price comes up into that zone, it gets rejected. With the only exception being the lawsuit pump when news broke that Ripple Labs had secured a "sort-of" victory against the SEC in their ongoing legal battle.

Although I'm feeling bullish on ETH and BTC, XRP is a wild card.

We just wicked up into that FVG Zone again, and are currently rejecting. Normally, I would immediately enter into a short however this time I'm going to wait for confirmation in the form of a bearish candle moving away. Once that occurs, I will short targeting our Demand Zone all the way down around $0.30.

Re-evaluate and flip bias if price is able to continue moving up and through the FVG Zone.