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XRP has entered a period of quiet movement following its rally last week that pushed its price to new all-time highs. Particularly, XRP’s price has hovered between $3.40 and $3.60 over the past few days. This structure has caught the attention of crypto analyst CasiTrades, who shared her detailed outlook on the social media platform X. Her accompanying chart breaks down the ongoing setup and shows the significance of the $3.40 support alongside the bullish implications of XRP’s behavior just beneath the resistance zone.
Former Resistance Now Support
CasiTrades points to a classic bullish flip taking place in XRP’s chart pattern on the 1-hour candlestick timeframe. A key trendline, which had previously served as overhead resistance, has now been flipped and is acting as support. This shift has played out with precision, as price has tested the trendline three times and each bounce affirms that buyers are stepping in with confidence. According to her analysis, this kind of structural transition might be subtle, but momentum is quietly building up for XRP’s next price move.
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The trendline, which has now flipped to support, sits just above the $3.40 level, and its resilience has helped XRP avoid any serious breakdowns since last week. As long as this line continues to hold, bulls will remain in control. To sum it up, the analysis shows that XRP is now in an accumulation phase rather than exhaustion, which is notable considering its significant rise earlier in the first half of July.
Furthermore, a look at the Relative Strength Index (RSI) on the 1-hour candlestick timeframe chart shows that there’s still room for momentum to push higher than $3.65 before the end of the month.
However, the analyst also acknowledges that nothing is guaranteed. If the $3.40 support gives out, the XRP price could retrace to $3.20, where the 0.236 Fibonacci retracement level lines up. Other Fibonacci price levels to watch for a rebound are at $2.96, $2.76, $2.56, $2.50, and $2.27.
Next Target Lies At $4.65
The trendline’s consistency, combined with the RSI levels, makes a stronger case for a breakout than a breakdown. The road ahead could open up well if XRP can bounce well at $3.40 and finally punch through the $3.60 to $3.66 resistance range. CasiTrades identified $4.65 as the next major level to watch, a target derived from the 2.618 Fibonacci extension of the previous rally. In the meantime, a middle price level to watch is at $4.11 on the path to $4.65. “The volatility above here gets wild and fast,” the analyst said.
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Once the XRP price clears $3.65, the path to $4.65 becomes much more probable, especially if the wider market sentiment shifts in favor of bullish price action.
Featured image from Getty Images, chart from Tradingview.com