Failed Rebound Attempts That Have Weakened XRP
XRP has made multiple assaults on the resistance zone located between $2.10 and $2.15 over recent weeks. Each attempt has ended in rejection, progressively forming a structure of lower highs, a classic signal of weakening bullish momentum. Buying volumes have dwindled as sellers took control of the order book.
This sequence of failures has created an accumulation of sell orders just above the psychological threshold of $2. When the price began to weaken, stop-loss orders from long positions triggered in a cascade, amplifying selling pressure. The technical structure then deteriorated rapidly, leaving the support at $1.93 as the last line of defense before a deeper correction.
The Range Still in Place
Despite everything, XRP is showing a swing failure at the bottom of the range with a wick and a bullish reversal within the range above $1.87. This 4% rebound is very positive for what comes next.
If XRP holds above $1.87, it will target its next resistance levels at $2.04 and then the order block on the 12H timeframe between $2.14 and $2.21.
Its RSI on the 12H chart has touched the oversold zone, while the CVD shows bullish divergences since December 8th. This is a sign of slow accumulation over several weeks.
Strategies for the Coming Weeks
DCA in spot over the coming days remains the best option, with profit-taking at the top of the range around $2.15-$2.20. The mid-range at $2.05 is also crucial. If the price holds above it, favor accumulation; if it holds below, favor selling.
Currently, range trading is the best option to take advantage of volatility. In this context, with a swing failure, an RSI in extreme oversold territory on the 4-hour chart, and a promising rebound, XRP has every chance of experiencing a rise in the coming weeks. Moreover, liquidity is now located above its price with shorts that have accumulated in recent days.
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