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XRP Short Setup: Bearish Adam & Eve at Neckline💫🚀🔥
XRP is forming a distinct top formation on the 30m timeframe. After the initial volatile spike ("Adam"), the price action has transitioned into a rounded consolidation ("Eve"), suggesting that bullish momentum is exhausting.
Technical Specs:
Pattern: Inverse Adam & Eve (Bearish Reversal)
Trigger: Breakdown of the support zone at $1.445
Market Dynamics: The structure shows a shift from sharp volatility (Adam) to slow distribution (Eve).
Trade Idea:
If the bulls fail to hold the support at 1.445, the measured move target is calculated by projecting the height of the pattern downwards from the breakdown point.
Beware of fakeouts: Always wait for a solid candle close below the neckline before entering.
$XRP