Altcoins News
By James Thorp
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Ripple’s XRP token has been holding firm above key support levels, suggesting that bullish momentum could continue toward the next major resistance at $3.64.
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Strong Technical Support Points to Reversal Potential
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Recent technical analysis indicates that XRP successfully retested its descending trendline breakout at the 50% Fibonacci retracement level, around $2.95.
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The daily chart also shows the 50-day Exponential Moving Average (EMA) acting as a crucial support level.
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Adding to the bullish case, recent exchange activity points to significant accumulation. Over the past 48 hours, more than $54.
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The combination of steady technical support and outflows from exchanges suggests that XRP is being accumulated at current levels.
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Market Sentiment and Derivatives Activity
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Traders’ sentiment appears heavily tilted toward bullish positions. On Binance, the XRPUSDT long/short ratio reached 3.
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Moreover, significant liquidation levels were identified around $2.932 on the downside and $3.048 on the upside. At these points, approximately $70.
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Upside Scenarios and Key Levels to Watch
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If XRP can maintain support above $2.95 and sustain buying pressure, the altcoin could test the $3.64 resistance.
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On the other hand, failure to hold above $2.95 could lead to a short-term pullback, where XRP may revisit lower support levels near $2.80 or $2.75.
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RSI and EMA Support Reinforce Bullish Outlook
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The current RSI of 54 suggests a balanced market, neither overbought nor oversold, which allows room for further upside without immediate risk of a sharp reversal.
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Combined, these indicators highlight that XRP is in a favorable position to continue its upward trajectory if buying pressure persists.
The Currency Analytics
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