XRP Coils For A Breakout, But Key Resistance Still Stalls The Rally
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XRP is still in hold mode, according to the latest chart analysis shared by crypto analyst @Casitrades. Despite the relatively soft weekend, XRP continued to trade above key support levels, indicating that the current bullish structure is not invalid.
XRP prices remain rising
@casitrades Check out the 4-hour XRP/USD chart carefully show The two fusion trend lines from mid-January to mid-March form a symmetrical triangle. XRP’s price action has always respected the upper and lower limits of the construct until early March.
Related Readings
At that time, XRP price initially made a breakthrough attempt, but it turned out to be a false one and soon failed. However, the second breakthrough seems to be more promising. After the move above the trend line, XRP is currently undergoing bullish retests and successfully rebounded Breakthrough level. If this retest is done in the next few days, it could indicate that the Bulls are gaining control and winning the key battle for the momentum.
Fibonacci retracement levels are a key guide to potential continuation or reversal. The 0.382 retracement close to $2.26 is clearly a key support, while the 0.236 level close to $2.70 level is consistent with the horizontal area that works in early February and then converts to short-term resistance in the short-term.
“XRP remains strong, but still in waiting mode! XRP is a quiet weekend, but the bullish structure is still intact. We still hold above $2.26, the key .382 back joints, and Price took some time to swap the merger to support to support – the market is built for the next move!” Casi noted.
Related Readings
A step on the chart is higher, at the 0.118 retracement level, close to $3.05, and the return journey is below the horizontal band that restricts price action before late January. These thresholds combined to create a layered resistance area, between $2.70 and $3.05, and the XRP area needs to overcome reliable changes in market sentiment.
If XRP can exceed $3.40, then signs of intensity will become more conclusive, which is necessary for @Casitrades to highlight the confirmation of broader trend changes. Analysts highlighted $3.40 as a definition of technical barriers that must be discussed in traders”New Trends,” may correspond to the 3rd wave of the larger market cycle. The chart also shows an expected line to roll out towards $3.80, suggesting that any breakthrough above $3.40 may be large, although analysts believe the confirmation must be ahead of any confirmation about reaching a higher price target.
On the downside, the chart shows that if the 0.382 fibonacci at about $2.26 should fail, support at $1.90 (0.5 retracement) would be the next logical safety net for the buyer. Even lower levels are close to $1.54, representing the origins of the latest upward swing that could attract a lot of demand if the market experiences an extended sell-off. RSI readings that hovered over the 4-hour time frame of the mid-50s point to a market that was neither over-trading. This neutral momentum further emphasizes the “waiting pattern” described by @Casitrades, where participants are cautious before putting aggressive bets Decisive breakthrough or collapse.
In a comment shared via X, analysts concluded: “XRP requires a break above $3.40 to confirm our new trend, but it may not be obvious until we have been waiting for signs of confirmation until Wave 3 in the market cycle. The market has reached a critical FIB level. The market is on the verge of breakouts, and this week may be a defining moment!”
At press time, XRP was trading at $2.29.
Featured Images created with dall.e, Charts for TradingView.com
