A recent analysis by R. Linda on TradingView shows that the XRP price is facing a difficult resistance zone after the recent recovery. The market still shows signs of instability after previous liquidations, and both XRP and Bitcoin are now moving into areas where another correction could occur. According to the analyst XRP’s price movement is part of a broader correction phase following a strong sell-off. Although there has been some recovery, the move appears weak and another decline could occur if XRP fails to rise above resistance.
XRP price faces strong resistance after a sharp sell-off
According to R. Linda’s analysis: XRP now forming a correction after a strong sell-off. The cryptocurrency market as a whole is slowly recovering after a period of heavy liquidation, but signs of weakness remain. Both Bitcoin and XRP are moving towards a zone of strong resistance, which could bring back selling pressure in the short term.
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As XRP approaches this level, the market may experience a slowdown or even a price drop. R. Linda warns about this this resistance zone could lead to renewed selling as traders may choose to take profits rather than buy more. It could lead to another decline, continuing the correction phase that started after the recent sell-off.
Right now, the market is pausing before making its next big move, rather than preparing for a strong rally. The XRP price short term trend remains vulnerable and the analyst advises traders to be cautious about moving quickly upward movements that do not have solid technical support.
Technical analysis shows breakdown and possible false breakout
Linda’s chart shows that after two months of consolidation, the XRP price broke below supporting its trading reachconfirming a structural collapse. The price is now reacting to that move and is in the midst of a correction. XRP is currently testing the liquidity zone between $2.70 and $2.7266, an area where the price could encounter heavy resistance and potentially trigger another sell-off.
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The analyst marks key resistance levels at $2.70 – $2.7266 and $2.8286, while the key support is around $2.5050. An inability to stay above these resistance levels could cause a rapid decline towards support. R. Linda also points out that a sharp rise without strong technical force could trigger a false breakout, meaning the price may briefly rise above resistance but quickly fall back down.
If such a false outbreak occurs, the The XRP price may correct downwards back towards the $2.5050 level, making the current price zone risky for both new buyers and short-term traders.
Overall, R. Linda believes that traders should approach the current XRP rebound with caution. The resistance zone remains a major turning point, and unless XRP breaks above it with force, another price crash could follow soon.
Featured image created with Dall.E, chart from Tradingview.com