XRP Struggles Below Key Resistance as Profit-Taking Risk Looms

XRP rallied 11% on Thursday, sparking optimism among traders after a breakout from a bull flag pattern signaled a potential continuation of its uptrend. However, despite the short-term strength, the token remains under critical resistance at $3.65—a level that previously triggered a bearish reversal, raising caution for bulls.

Last month’s rejection at $3.65 formed a “tweezer top” candlestick pattern—typically a bearish signal—where back-to-back highs at the same level suggest strong overhead selling pressure. The inability to break above this zone suggests the market could face renewed resistance if it attempts to retest it.

To regain bullish control, XRP must decisively clear the $3.65 supply zone, invalidating the prior reversal pattern. Yet, this may prove difficult in the short term.

On-chain data reveals a buildup of unrealized gains, suggesting holders may soon look to secure profits.

“The Net Unrealized Profit/Loss (NUPL) for XRP is at levels not seen since 2021, closely mirroring 2018’s peak,” said research firm Alphractal. “These historically high readings often coincide with distribution phases and potential price corrections.”

XRP Key Levels:

• Resistance: $3.38, $3.65, $4.00
• Support: $2.99, $2.72, $2.65

Bitcoin Consolidates in Bullish Formation as Market Eyes Breakout

Bitcoin (BTC) is currently trading within a descending channel, a pattern that often reflects a period of healthy consolidation within a broader uptrend. The channel has formed within the context of BTC’s primary bullish trend, with prices recently rebounding off the 50-day Simple Moving Average (SMA)—a sign of continued structural strength.

This consolidation, often called a “bullish breather,” suggests the market is catching its breath before potentially moving higher.

A breakout above the descending channel would confirm a continuation of BTC’s upward trajectory, setting the stage for a possible surge to fresh all-time highs beyond $123,000. However, a drop below the May high of $111,965 would raise the likelihood of a deeper correction, potentially targeting the psychological $100,000 level.

BTC Key Levels:

• Resistance: $120,000, $122,056, $123,181
• Support: $111,965, $104,562, $100,000

Ether Breaks Out to Four-Year Highs, Signals New Uptrend

Ether (ETH) has surged past $4,200, breaking free from a multi-year symmetrical triangle that had capped price action since its 2021 all-time high. The breakout marks a significant shift in long-term market structure, with bullish momentum clearly returning to the second-largest cryptocurrency by market cap.

This breakout on a large timeframe is a major technical signal, suggesting the market has entered a renewed uptrend. Traders are now eyeing a potential run toward record highs above $4,800.

ETH Key Levels:

• Resistance: $4,400, $4,875, $5,000
• Support: $4,000, $3,941, $3,737