XRP Struggles Below Resistance Despite 11% Rally
XRP jumped 11% on Thursday, breaking above a bull flag formation and hinting at renewed upside momentum. However, the rally stalled below $3.65, a critical resistance level defined by a bearish tweezer top pattern from July. That formation — created by two candles with identical highs — remains a clear rejection zone, underscoring lingering selling pressure.
A decisive break above $3.65 would invalidate the bearish reversal and open the door to higher levels. But on-chain data suggests caution may be warranted.
“XRP’s Net Unrealized Profit/Loss (NUPL) has returned to levels not seen since 2018 and 2021 tops — historically high-profit zones that often precede distribution phases,” said Alphractal on X.
With holders sitting on elevated paper gains, the risk of profit-taking remains high, potentially capping near-term upside.
Key Levels – XRP:
- Resistance: $3.38, $3.65, $4.00
- Support: $2.99, $2.72, $2.65
Bitcoin Consolidates in Bullish Channel, Eyes Breakout
Bitcoin continues to trade within a descending channel inside a broader uptrend — a classic consolidation pattern following a strong rally. Price recently bounced from the 50-day Simple Moving Average, offering support to the bullish structure.
A breakout above the channel would signal a resumption of the uptrend, with upside targets near $123,000. Conversely, a move below $111,965, the high from May, could trigger deeper downside toward $100,000.
Key Levels – BTC:
- Resistance: $120,000, $122,056, $123,181
- Support: $111,965, $104,562, $100,000
Ether Confirms Long-Term Breakout Above $4,200
Ether (ETH) has surged past $4,200, marking its highest level in four years and confirming a breakout from a multi-year symmetrical triangle pattern. That structure had contained price since late 2021, making the breakout a significant bullish signal.
This move positions ETH for a potential test of its $4,875 all-time high, with bulls now eyeing the psychological $5,000 level. Momentum indicators remain supportive, suggesting the breakout could lead to sustained upside.
Key Levels – ETH:
- Resistance: $4,400, $4,875, $5,000
- Support: $4,000, $3,941, $3,737
