Just noticed XRP printing what looks like a gravestone doji on the daily—that's the kind of pattern that usually spells trouble. Price opened around $1.50, spiked to $1.46 intraday, then rolled over and closed at $1.42. That's a pretty clear rejection at higher levels.



The thing about this gravestone formation is it typically signals exhaustion on the upside. Analysts have been pointing out that similar patterns have preceded some pretty sharp declines before. Looking back at what happened in January, there was a comparable setup that led to a significant drop.

Right now the 24h action shows -2.13%, so the selling pressure seems real. Unless we see a strong bullish candle reverse this pattern, XRP could be looking at more downside. Definitely something to watch closely over the next few sessions.
XRP-2.54%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin