Staring at XRP for almost a month now, this coin's market behavior really tends to mess with retail investors' psychology. It rises then gets hammered back down, dips then makes a shallow rebound, afraid of being trapped when trying to buy the dip, afraid of missing out when trying to cut losses—this is probably the most honest market portrayal right now. But the problem is, behind this seemingly frustrating trend, there are actually many technical signals worth analyzing. Today, I want to share my observations on XRP's recent market movements.

First, let's look at the daily technicals. The 50-day, 100-day, and 200-day moving averages are all stuck in the range of $2.07 to $2.33, with XRP's price consistently below and showing no signs of breaking through. Especially the $2.04 level near the 20-day moving average, which looks like a simple line of defense, but in reality, it's fragile. Several attempts have been repelled, indicating that the current bullish rebound strength is indeed limited.

A common trap many people fall into is interpreting this recent trend as a sign of reversal. Not really. Since October last year, XRP has been in a downward correction, essentially a bear market adjustment, not a bullish turnaround signal. I've seen many retail investors treat rebounds as a lifeline and rush in, only to get buried. These rebounds are fundamentally technical corrections within a downtrend; don't overcomplicate them.

My straightforward judgment: as long as the price hasn't truly broken above the dense zone of the $2.33 moving averages and stabilized, any upward movement should be viewed as a "bull trap." Be cautious when trying to buy the dip; the bottom may not be where you think it is.