XRP/USDT 1H: Bears in Control – Next Stop $2.50?

XRP/USDT 1H Chart Analysis
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Market Condition:

• Price: $2.608, showing bearish momentum after breaking previous support.
  
• Market Structure: Clear lower highs and lower lows, confirming a bearish trend.
  
• RSI: 34.11, oversold but no clear bullish divergence yet.
  

Key Levels:

• Resistance: $2.90 (previous support now resistance).
  
• Support: $2.50 (psychological level).
  
• Premium Zone: $3.10 - $3.15.
  

Smart Money Analysis:

• Market Makers in Distribution Phase, pushing price lower.
  
• Heavy Selling Pressure with clear institutional footprints.
  
• Confidence Level: 8/10 for short setup.
  

Trade Setup (Short Bias):

• Entry: $2.65 - $2.70 on relief bounce.
  
• Targets:
  
• T1: $2.50.
  
• T2: $2.35.
  
• Stop Loss: $2.85 (above recent swing high).
  
• Risk Score: 7/10 (Favorable R:R).
  

Recommendation:

• Wait for a relief bounce to $2.65 - $2.70 before shorting.
  
• Market structure suggests further downside likely.
  
• If price breaks $2.50, expect increased momentum downward.
  

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