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XRP Bulls Face Resistance as Bitcoin and Ethereum Surge
Crypto 11 days ago
XRP’s price action shows a tweezer top pattern at $3.65, indicating strong selling pressure and a potential reversal. Analysts note that holders are sitting on significant profits, increasing the likelihood of a sell-off. Overcoming this resistance is crucial for bulls to invalidate the bearish signal.
Bitcoin is consolidating within a descending channel, a typical ’bull breather’ pattern. A breakout above this channel could propel BTC toward record highs, while a drop below $111,965 may trigger a deeper correction. The 50-day SMA supports the current consolidation phase.
Ethereum has broken out of a long-term symmetrical triangle, surging past $4,200. This breakout signals a powerful uptrend, with potential to retest all-time highs above $4,800. Traders are closely watching these key levels for further market direction.
