XRP Fails to Break Downtrend But Bullish Plan Remains Valid
The post XRP Fails to Break Downtrend But Bullish Plan Remains Valid appeared on BitcoinEthereumNews.com. Key takeaways: XRP failed to hold $3.12 and faces immediate resistance at $3.30. Onchain data shows strong accumulation between $2.70 to $3.00. Chart fractals suggest a potential 60%–85% rally into Q4 remains valid. XRP (XRP) posted an 18% rally in the first half of September, climbing to $3.18 from $2.70. However, the token failed to breach the $3.20 mark, rejecting at the four-hour fair value gap on the sell side and slipping back to retest the $3 support. Following the Federal Reserve’s interest rate cut on Wednesday, XRP was unable to register a higher high above $3.18, extending short-term weakness, lining up another $3 retest. The altcoin is also struggling to maintain its footing above the 50-day simple moving average (SMA), adding further selling pressure to near-term momentum. XRP six-hour chart. Source: Cointelegraph/TradingView Futures trader DOM highlighted the bulls’ inability to hold the $3.12 level earlier this week, which he identified as a key area for continuation toward $3.30. The trader said: “Bulls failed to hold $3.12 area earlier in the week, which I stated would be the challenge for a push to $3.30. That idea remains, with all eyes on that level being flipped to support (battling now). No substantial passive resistance in the order books until that ~$3.30 target area.” This leaves $3.30 as the immediate resistance, with bulls needing to reclaim $3.18 for any meaningful continuation higher. Related: Chainlink sees best performance since 2021 as cup-and-handle targets $100 LINK Why XRP’s bullish plan remains intact Despite short-term setbacks, broader market signals point to sustained bullish momentum for XRP. Onchain data shows the Net Holder position change has been strongly positive since Aug. 22. This shift followed a stretch of red between July and early August, coinciding with profit-taking at higher levels. Accumulation has been most evident in the…
The post XRP Fails to Break Downtrend But Bullish Plan Remains Valid appeared on BitcoinEthereumNews.com.
Key takeaways: XRP failed to hold $3.12 and faces immediate resistance at $3.30. Onchain data shows strong accumulation between $2.70 to $3.00. Chart fractals suggest a potential 60%–85% rally into Q4 remains valid. XRP (XRP) posted an 18% rally in the first half of September, climbing to $3.18 from $2.70. However, the token failed to breach the $3.20 mark, rejecting at the four-hour fair value gap on the sell side and slipping back to retest the $3 support. Following the Federal Reserve’s interest rate cut on Wednesday, XRP was unable to register a higher high above $3.18, extending short-term weakness, lining up another $3 retest. The altcoin is also struggling to maintain its footing above the 50-day simple moving average (SMA), adding further selling pressure to near-term momentum. XRP six-hour chart. Source: Cointelegraph/TradingView Futures trader DOM highlighted the bulls’ inability to hold the $3.12 level earlier this week, which he identified as a key area for continuation toward $3.30. The trader said: “Bulls failed to hold $3.12 area earlier in the week, which I stated would be the challenge for a push to $3.30. That idea remains, with all eyes on that level being flipped to support (battling now). No substantial passive resistance in the order books until that ~$3.30 target area.” This leaves $3.30 as the immediate resistance, with bulls needing to reclaim $3.18 for any meaningful continuation higher. Related: Chainlink sees best performance since 2021 as cup-and-handle targets $100 LINK Why XRP’s bullish plan remains intact Despite short-term setbacks, broader market signals point to sustained bullish momentum for XRP. Onchain data shows the Net Holder position change has been strongly positive since Aug. 22. This shift followed a stretch of red between July and early August, coinciding with profit-taking at higher levels. Accumulation has been most evident in the…
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