Just checked XRP and honestly the bounce from that $1.31 low doesn't feel right to me. Yeah it's up about 3% and reclaimed $1.35, but looking at the hourly, there's a pretty clear flag pattern forming that's got me concerned. We dropped hard from $1.60 on March 17 down to $1.31 by March 27 - that's roughly 18% - and now this bounce could just be the flag portion before another leg down. If it breaks, we're looking at a similar 18% move which would push XRP toward $1.08.

What's making me more bearish is the RSI setup. Between early February and late March, price made a lower high while momentum made a higher high - that's a hidden bearish divergence and it usually means the downtrend continues rather than reverses. The flag pattern combined with this divergence is a rough combo. Confirmation would come if we close below $1.35 on the 12-hour, but honestly with derivatives showing rising open interest on this bounce and spot holders quietly reducing their bags, the setup looks fragile.

The data tells the story - long positions are piling in during the bounce but hodlers with conviction have trimmed about 3.5% of their holdings since March 25. That's typically bearish. Current price is sitting around $1.34, and if this flag pattern breaks down like I'm watching for, that $1.08 zone becomes the target. Only a move back above $1.60 would kill this setup entirely. For now, the $1.35 level is the key test - hold it and the bearish structure delays, lose it and we confirm the breakdown.