[Analysis] "XRP hit the $2 resistance…Sell signal detected amid surge in trading volume"

Source
Suehyeon Lee

Summary

  • XRP (XRP) had all three upward attempts blocked at the $2.00–$2.01 resistance.
  • Trading volume in the resistance zone surged to about 186% of the average, but this is interpreted as a sell signal rather than an accumulation signal.
  • CoinDesk judged that the technical view is likely to remain neutral to bearish until XRP clearly breaks above $2.01.
Photo=Shutterstock
Photo=Shutterstock

On a technical basis, XRP (XRP) continues to be held back by clear resistance in the $2.00–$2.01 range.

On the 15th (local time), CoinDesk reported, "XRP is technically being held by the $2.00–$2.01 resistance zone. In this price range, three recent attempts to rise were blocked," adding, "each time trading volume expanded alongside, which is interpreted not as an accumulation signal but as a sell signal."

The outlet said, "In particular, the surge in volume observed in this decline stands out. During the recent resistance re-test, trading volume increased to about 186% of the average, and selling pressure is actively defending that resistance." It went on, "If supply is fully absorbed, this could lead to a sharp upside breakout, but conversely, if buying pressure is exhausted, it could develop into a deeper correction."

Momentum indicators are showing mixed signals. The short-term Relative Strength Index (RSI) has stopped falling and is stabilizing, but it has not yet entered a clear bullish expansion phase. At the same time, the short-term price structure is maintaining lower highs below $2.03, limiting upward pressure.

Accordingly, CoinDesk assessed, "Until XRP clearly breaks above $2.01 with accompanying volume, the technical view is likely to remain neutral to bearish," adding, "If it fails to overcome this resistance, the possibility of a short-term range-bound movement or a renewed adjustment phase remains open."

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Suehyeon Lee

shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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