Technical analysis by Jack-Mastermind about Symbol XRP: Sell recommendation (5/6/2025)

After a strong bullish recovery, USDT recently entered a consolidation phase near the $2.30 region, forming a clear distribution zone. Price has now broken below the lower boundary of the consolidation and the ascending parallel channel, signaling potential bearish continuation.Key Technical Insights:Break of structure at $2.0988 confirms selling pressure.Price is retesting the broken support, now acting as resistance.We are watching for a lower high formation around $1.9691 to confirm the downtrend continuation.Potential Bearish Targets:1. $1.9691 – Previous support, now resistance.2. $1.8736 – Mid-range target in line with previous demand.3. $1.7964 – Final target zone if momentum continues.Trade Idea:Look for confirmation of rejection at $1.9691 with strong bearish candles or wicks. If price fails to reclaim this level, short positions could be favorable toward $1.8736 and $1.7964.