XRP's Double Bottom Dilemma: Hope or Delusion?

I've been watching XRP's 4-hour chart with growing skepticism. Sure, it bounced from that "major support" zone - the same one that supposedly triggered the last upward movement - but I'm not buying the hype so easily this time.

This so-called "clean bounce" could just as easily be the setup for another painful bull trap as it could be the beginning of a genuine recovery. The market loves to give false hope right before crushing dreams.

XRP has been bouncing around $2.85, up about 2.14% - nothing to write home about in crypto terms. While some are calling this a potential double bottom formation, I'm seeing the same old pattern of lower highs that's been punishing overeager traders for months.

Let's look at what's actually happening:

• That previous top wasn't just "strong supply rejection" - it was brutal profit-taking
• Current "support" might be high-volume, but so was every other "support" that eventually broke
• Stoch RSI turning up from oversold? A technical indicator that's failed countless times before

The cheerleaders will tell you breaking $3.15 would confirm the reversal. Then they'll move the goalposts when that level fails.

Trading XRP right now feels like walking into a casino blindfolded. Don't mistake a dead cat bounce for resurrection. Until we see genuine strength beyond these technical tricks, I'll remain doubtful that this is anything more than another bear market rally designed to harvest hopeful longs.

Maybe I'm wrong - but after watching this pattern repeat countless times across various cryptos, my gut says we're not seeing the bottom yet. The market rarely makes it that obvious.

$XRP #xrp