Bitcoin and XRP have both made strong attempts to recover resistance levels in the last few days. Bitcoin has broken above the price level of $ 120,000. XRP, on the other hand, did not find so easy to establish a firm break, even if it has pushed up to $ 3.10 in the last 24 hours.
The technical analysis indicates possible earnings of short -term prices if the resistance levels are worth, but also outlines a scenario in which both Bitcoin and XRP could face another drop of drop in next week.
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XRP’s struggle against the downward trend
Technical analysis of the daily graphics of Time of Candelaio of XRP, which was published on The social media X platform of a encryption analyst called Guy on the Earth, shows that the action of XRP prices in the last 48 hours is pushing over a resistance to the trend, with the upper part of its consolidation rectangle at $ 3.12 now on fire.
The analyst observed that the cryptocurrency lost this objective for his latest increase, stopping at $ 3.10 before returning to $ 3. However, XRP has so far managed to repeat the test and find support on the downward trend line, which suggests that there is still a possibility of continuing.
However, the analyst observed that the rally could disappear quickly, unless XRP can close the week and retain $ 3.12. A drop below $ 3.00 invalidate the breakout Try and reopen the possibility of a break to the support of $ 2.72. The pink circle designed on the following graph shows the risk of XRP falls for the test The ascending trend line from $ 2.40 to $ 2.50 if $ 2.72 is broken.
Daily prices graphics XRP: @guyontheearth
Bitcoin, on the other hand, was showing a stronger moment. The breakout above $ 120,000 has been decisive and this can be seen as a healthier technical structure than XRP. Bitcoin Dominance (BTC.D) also focuses higher, which means that Bitcoin could continue to drive the market regardless of whether the next move is up or down.
A big weekend in front of Bitcoin and XRP
The next few days will be important for both XRP and Bitcoin. The three -day candle closes within hours and the weekly candle will confirm the largest direction shortly after. For XRP, keeping up $ 3.00 is important to keep up the upright trendy test. On the other hand, Bitcoin maintenance Force above $ 120,000 He could confirm his breakout and establish new reasons for further gatherings.
Bitcoin bankruptcy to be contained over $ 120,000, probably would inaugurate another bloody phase next week, with XRP at risk of returning to $ 2.72 or even lower. The closing of the week will determine whether this event has legs or if the correction scenario takes place instead.
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At the time of writing writing, XRP is exchanged at $ 3.03. Bitcoin is exchanged at $ 122,500.
In the foreground image from Usplash, a tradingview graphics