Cryptocurrency XRP Experiences Setback, Yet Potential Rebound May Be Imminent
In the world of cryptocurrencies, XRP is gearing up for a potential recovery rally, as suggested by the latest analysis from prominent cryptocurrency analyst CRYPTOWZRD. This optimistic outlook comes in response to a recent rise in Bitcoin Dominance (BTC.D), a measure that shows Bitcoin's relative strength in the market.
The analyst notes that the daily chart for XRP, as well as XRPBTC, closed bearish on Monday. However, CRYPTOWZRD views the recent massive bullish weekly close as a strong underlying signal. Short-term dips are a normal part of the broader trend and often provide a setup for the next move higher.
For XRP to regain its bullish footing, XRPBTC must first turn positive. This means that the performance of XRP will likely mirror the combined outcome of both Bitcoin and XRPBTC. If XRP can push above the $3.3 daily resistance level, the path to $3.65 will open quickly. Breaking the $3.65 barrier could pave the way for XRP to chart a new all-time high.
On the other hand, failure to hold above $3.02 might lead to renewed selling pressure. The $3.02 level stands as the primary support level to watch. Below this, critical technical defense from the 50 EMA (~$2.89) and the 50% Fibonacci retracement at ~$2.78 could come into play. A breakdown below these levels could lead XRP down to $2.00 or even $1.90 lows.
The relationship between Bitcoin's strength and XRP's price action has been declining recently, indicating XRP's price is becoming more influenced by its own fundamentals and adoption factors rather than just Bitcoin’s moves. Key price levels that traders watch for XRP center around strong support near $3.13 and resistance around $3.40.
CRYPTOWZRD plans to closely monitor the intraday chart formations tomorrow to identify the next scalp opportunity. The analyst anticipates this recovery rally could set the stage for the next trading opportunity in the near term.
It's important to note that the article does not reveal the specific reasons behind the rise in Bitcoin Dominance or mention any other cryptocurrencies or their price actions in relation to XRP or Bitcoin.
In conclusion, while Bitcoin's strength still matters as a macro market driver, XRP's price action in 2025 is increasingly moving on its own bullish trajectory influenced by regulatory developments, ETF approvals, institutional inflows, and expanding Ripple partnerships in cross-border payments. Traders should watch for support between $2.78 and $3.15 as key zones of strength and look for a breakout above $3.40 as a signal of potential strong rallies. Conversely, a breach below $2.78 could warn of deeper corrections. CRYPTOWZRD remains optimistic about a swift reversal in the near term.
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- The analyst forecasts a potential recovery rally for XRP, indicating its bullish trajectory might be independent of Bitcoin's price action in the future.
- A key factor for XRP's recovery is for XRPBTC to turn positive, suggesting a close correlation between its performance and that of Bitcoin.
- In the ongoing market volatility, traders should keep an eye on XRP's support levels near $3.13 and resistance levels around $3.40, as these levels could signal significant price movements.
- If XRP fails to hold above $3.02, it could face renewed selling pressure, potentially leading to corrections as low as $1.90, emphasizing the importance of monitoring key support levels.
