XRP has finally escaped a prolonged accumulation phase, reclaiming important levels against both USDT and BTC. This breakout occurs amid a general market sentiment shift towards optimism, with Ethereum and Bitcoin also showing strong bullish movements.
Volume and momentum support this move, but traders should be cautious of potential profit-taking or short-term pullbacks after such strong bullish runs.
XRP/USDT Analysis
Compared to USDT, XRP has surpassed the long-standing resistance of $3.00, which previously served as a ceiling in several unsuccessful breakout attempts.
This volatility is quite clear and strong, with prices currently heading towards the psychological resistance level of $4.00. This is the next important milestone to watch, as it is likely to be a potential target for many buyers. The RSI indicator is also above 80, indicating strong momentum, but also warning of the potential for short-term overextension.
Looking at the structure, XRP has exceeded the declining price threshold, which has limited price movement for the past 6 months. This shift marks a clear change in market characteristics. As long as the XRP price remains above the $3.00 level, buyers still hold control. A deeper pullback into the breakout area could provide a high probability retest opportunity. However, losing $3.00 again would invalidate the breakout and indicate that prices will revert to the range.
XRP/BTC Price Analysis
The XRP/BTC pair has surged impressively, surpassing the important high of 2,500 SAT and the nearby 200-day moving average. Currently, this pair is testing the upper boundary of the main supply area around 3,000 SAT.
This level has previously served multiple times as a distribution area in past bullish runs and has now become a battleground between buyers and profit-takers. XRP's price has also created a reasonable value gap just below the current price, which could act as a short-term support level to push prices past the 3,000 SAT area.
Furthermore, the RSI indicator is currently fluctuating around 88, indicating overheating that could lead to short-term cooling. If XRP holds above the 2,500 SAT area, the bullish structure remains intact and the likelihood of continuing to surpass the resistance area of 3,000 SAT is very high.
However, any rejection from 3,000 SAT could trigger a pullback to retest the 200-day moving average around the 2,500 SAT level.