XRP Charts Flash Warning Signs for Bulls While Bitcoin Holds Breath and Ether Goes Wild
XRP's technical setup just threw cold water on bullish enthusiasm—right as Bitcoin teeters on the brink of its next big move and Ethereum defies gravity.
Warning lights blink for Ripple's token
XRP's charts now scream 'proceed with caution,' with key support levels looking shakier than a crypto startup's regulatory compliance strategy. Bulls might want to strap in—or step aside.
Bitcoin's make-or-break moment
BTC consolidates in a tightening range, because apparently even digital gold needs dramatic pauses. The breakout could define the next quarter's trend—if it ever arrives.
Ethereum's unhinged rally
ETH's price action has gone full 'degen mode,' leaving fundamentals in the dust. Because nothing says 'healthy market' like double-digit percentage swings before breakfast.
Meanwhile, traditional finance bros still can't decide if crypto is a scam or their next career pivot. Place your bets.
XRP: Not out of the woods yet
XRP (XRP), the payments-focused cryptocurrency, surged 11% on Thursday, reportedly breaking out of a bull flag pattern to suggest renewed upward momentum. However, it's not yet clear, as prices remain well below the crucial $3.65 level, where a bearish "tweezer top" candlestick pattern occurred last month.
The tweezer top is a bearish reversal pattern, comprising two candles with identical highs that represent a clear rejection point, in this case $3.65. It's as if the market tried to climb to a new level twice and was met with a brick wall of selling pressure at the same spot, a sign that the upward momentum has completely stalled.
The bulls, therefore, need to overcome the significant supply point at $3.65, a move that WOULD invalidate the bearish reversal pattern.
However, this may be easier said than done, as on-chain data suggests that holders are sitting on substantial profits and have a strong incentive to sell at current valuations.
"The [XRP] Net Unrealized Profit/Loss (NUPL) remains at elevated levels not seen since the 2021 peak, reaching similar levels to those observed in 2018. These high values indicate that the market still carries significant unrealized profits, which historically represents zones of potential distribution and price correction," research firm Alphractal said on x.
- Resistance: $3.38, $3.65, $4.00.
- Support: $2.99, $2.72, $2.65.
Bitcoin: BTC awaits breakout
Bitcoin's (BTC) recent pullback is currently taking the shape of a descending channel (white lines) within its primary uptrend (yellow lines). This pattern is a classic "bull breather" that suggests the market is consolidating its recent gains.
The price's recent bounce from the 50-day Simple Moving Average (SMA) further reinforces the strength of this consolidation. For traders, this means that while the short-term trend is still corrective, the path of least resistance remains to the upside.
A decisive breakout from the descending channel would confirm a continuation of the broader uptrend, potentially yielding a MOVE to record highs above $123,000. Conversely, a move below the May high of $111,965 would increase the risk of a deeper sell-off to $100,000.
- Resistance: $120,000, $122,056, $123,181.
- Support: $111,965, $104,562, $100,000.
Ether: Major breakout
Ether has rallied to over $4,200, reaching levels last seen four years ago. The cryptocurrency has broken out of a prolonged symmetrical triangle that contained its price since the all-time high in late 2021, which is a major bullish signal.
The decisive breakout, particularly on a chart with this long a time horizon, indicates that the market has officially entered a new, powerful uptrend, opening the door for a retest of record highs above $4,800.
- Resistance: $4,400, $4,875, $5,000.
- Support: $4,000, $3,941, $3,737.
