- XRP regained its bullish market structure in the daily charts
- The H4 diversion meant that some consolidation is probably around $ 2.7 in the coming days
At the time of the press, XRP seemed to have solved the formation of the short -term range and climbed by $ 2.5 beyond the resistance zone. The purchasing pressure increased for the past 48 hours, making the price of the crypto higher. An earlier analysis stated that the $ 2.5 $ 2.7 zone should be reversed to support, before the next higher time frame.
That condition is met, but the rest of the market is not yet bullish. Can Xrp continue higher and move another 30%? Even as Bitcoin [BTC] Remains trapped under $ 100k?
XRP breaks Bearish H4 structure, rebounds from important Fibonacci retracement level
Source: XRP/USDT on TradingView
The daily graph revealed the RSI that crossed above the neutral 50 to indicate a shift in Momentum. The OBV remained higher trend. Despite the competitive price -refection in the first week of February, the OBV hardly collapsed. This was a sign that selling volume was low and a rebound was probably.
Since then, that rebound has taken place, and the question is now – can XRP go even higher? The rebound came after a retest of the 78.6% Fibonacci retracement level, where a range was seen.
A recovery of this level is usually pushed to the extension levels of 23.6% and 61.8%. That is why the long -term goals for XRP for this leg would be $ 3.73 and $ 4.26. However, the local highlights would be the target in the next 2-3 weeks.
Source: XRP/USDT on TradingView
The 4-hour graph emphasized a bearish divergence between the price and the RSI. In the meantime, the OBV maintained its flat trend. Together they suggested that the price could be determined in the coming days for a consolidation phase of around $ 2.7.
A consolidation can also be expected, and no pullback. Especially since XRP broke the most important resistance levels in the short term. The price cannot be expected to be lower than the real value gap at $ 2.6- $ 2.68.
The liquidation heat from the last month meant some liquidity bags that built up around the price. The zone of $ 2.86 seemed to be close by and had a good number of liquidations, making it the next likely target.
Further north, the $ 3.37- $ 3.43 zone would be the next important magnetic zone. The number of liquidations in this region means that there is a good chance that the price can be attracted to these levels.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer