In the latest daily technical update posted on X, Cryptowzrd noted that XRP concluded the session with an indecisive close. Yet, maintaining its stance at the $3.3000 resistance level is notable following the strong bullish rally seen yesterday.
Daily Candle Stalls, But XRPBTC Pair Shows Strength
Cryptowzrd provided a detailed breakdown of XRP’s current market setup, noting that the daily candle closed indecisively. Despite this, the XRPBTC pair ended the session with a somewhat bullish tone. According to the expert, a decisive move above 0.0028750 BTC could spark a rapid and impulsive upside rally, adding significant momentum to XRP’s bullish prospects from its present position.
He pointed out that XRP was hovering near the $3.23 resistance level, a key zone that has the potential to unlock further gains. Should this level give way, the price could advance toward the next major resistance at $3.65. The momentum from such a breakout could be amplified if paired with strength in the BTC market.
Beyond the $3.65 threshold, Cryptowzrd foresees the possibility of XRP surging toward a new all-time high near $4.60. He stressed that such a move would likely be driven by a strong, impulsive rally fueled by increased buying pressure and market enthusiasm. This scenario would mark a significant milestone in XRP’s current recovery phase.
On the downside, $2.80 remains the critical daily support level to watch. Maintaining this support is vital for preserving the overall bullish market structure. A breakdown below it could alter the current outlook, potentially inviting deeper corrections and cooling bullish sentiment.
Looking ahead, Cryptowzrd confirmed that his attention will remain on lower time frame chart formations in the coming sessions. He is particularly focused on identifying the next viable scalp opportunity, as the current secured position continues to work in favor of the broader strategy.
Volatility Persists As Traders Eye $3.23 Retest
Wrapping up the analysis, the analyst highlighted that XRP’s intraday chart experienced significant volatility on Friday and is likely to maintain that intensity in the near term. Such choppy price action presents both risks and opportunities for short-term traders.
The analyst pointed out that a retest of the $3.23 level as support, followed by a bullish reversal, could pave the way for another promising long position. Conversely, a decisive breakout above the $3.23 intraday resistance would likely propel XRP toward the $3.65 resistance zone, offering a clear upside target. For now, Cryptowzrd stressed the importance of patience, emphasizing that the next move should come from a healthy and mature trade setup.
Credit: Source link
