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Bitcoin is currently retesting a critical area on its price chart, aiming to flip previous resistance into new support. Ethereum, Chainlink, Solana, and XRP are also showing key movements, with XRP rejecting resistance and Chainlink showing bullish divergence. The market may experience further fluctuations in the short term, but the longer-term trend remains bullish.
Ripple’s XRP is up by more than 15 percent in the last seven days and is currently trading at $2.42 level. The XRP chart has been showing a sideways movement, and while it’s been in a range, it’s currently quite interesting. The price is adhering well to key levels and following the proposed microstructure we’ve discussed on different time frames.
Although the larger time frame hasn’t changed much, it’s important to understand the ongoing micro movements as they could have implications for the week ahead. These developments could be significant, as we may be heading into a decisive week for XRP.
Critical Levels to Watch
XRP is behaving exactly as expected, rejecting from the resistance level around $2.50. This has been a key area of resistance that I’ve been warning about for days. Since this bearish divergence is on the 4-hour chart, it’s unlikely to last for more than a few days. Over the next 1-2 days, the pullback could continue, but it should clear up within 3-4 days. If we see a confirmed breakout above the $2.50 resistance, it would mark a significant shift in the trend.
For the immediate future, the price is expected to continue reacting to the bearish divergence, leading to a rejection from the resistance level. Key support levels to watch are $2.32, $2.22, and $2.13-$2.14. The lower boundary of the descending channel is around $1.83, which is another important support level.