$XRP – Range Breakout Attempt or Another Fade?
Technical Overview (4H)
$XRP is trading at 2.28 after a sharp push toward 2.35, which got quickly sold off. That wick top at 2.3537 lines up with prior local resistance and marks a short-term supply zone. Price is still trading above all major moving averages — MA(7), MA(25), and EMA(99) — showing short-term bullish control. But MACD is flatlining, and RSI is stuck in mid-50s. This is a classic hesitation setup after a breakout attempt.
Price action has been stair-stepping higher from the 1.90s base, but volume isn’t expanding meaningfully — that’s a red flag if you’re looking for sustained upside. Compression is forming just above EMA(99), now at 2.21, which should act as a pivot.
Base Case – Consolidation Within 2.23–2.33 Before Directional Move
Right now, $XRP looks like it’s building a range between 2.23 support and 2.33 resistance. If we see a few more 4H candles with higher lows above 2.25, the structure favors a breakout. In that case, the next target sits at 2.42, with 2.48 as the extension. However, if we lose 2.23 on high volume, expect a flush back toward 2.14–2.12 to test the rising 99EMA support zone.
Alt Case – Fake Break to 2.36 Then Rapid Reversal
If bulls push too fast toward 2.36 without proper volume, this could trigger a bull trap. A failed breakout wick followed by an engulfing red candle would flip structure bearishly short-term. In that scenario, price could unwind toward 2.08 in one session, especially if $BTC corrects in parallel.
Execution Plan
No trade here unless the range resolves. I’d consider a breakout trade above 2.34 with a stop below 2.29. Or, if we retest 2.14 on a fast drop and bounce on volume, that’s a safer long with tighter invalidation. Right now, this is a momentum stall — letting it pick a side.