XRP Holds $3.30 Resistance Level After Recent Bullish Rally
In a recent technical update, Cryptowzrd reported that XRP ended with an indecisive close but maintained its position at the $3.3000 resistance level following a bullish rally.
Market Analysis
Key points from the analysis include:
- The daily candle closed without a clear direction, yet the XRPBTC pair showed bullish signs.
- A breakout above 0.0028750 BTC could lead to a significant upside rally for XRP.
- XRP is near the critical $3.23 resistance level; a breakthrough could push prices toward $3.65.
- If XRP surpasses $3.65, it may target a new all-time high around $4.60.
- Critical support is observed at $2.80; failing to hold this level might result in corrections.
- Future focus will be on lower time frame charts for potential trading opportunities.
Volatility and Trading Strategy
Cryptowzrd noted increased volatility in XRP's intraday chart, presenting risks and opportunities for traders. A retest of the $3.23 level followed by a bullish reversal could indicate a favorable long position. Conversely, breaking above $3.23 would likely lead to movements towards the $3.65 resistance zone.
