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crypto.news 2025-06-05 18:39:13

XRP holds key support: is a new bullish trend forming?

XRP is currently holding firm at a critical technical zone, defying broader market weakness. With volume poised to return and support levels stacking up, could this mark the beginning of a bullish continuation? Despite market-wide consolidation and uncertainty, XRP ( XRP ) has maintained its footing at a crucial support level. A combination of high-timeframe support, trend line confluence, and the 200-day moving average is creating a foundation for a potential bullish structure. All eyes are now on volume, the missing ingredient that could fuel XRP’s next move. Key technical points Support Confluence: XRP is holding at the intersection of a key trend line, high-timeframe support, and the 200 moving average – a rare triple-layered support structure. Volume Profile Decline: A noticeable volume drop suggests accumulation; a volume influx is likely and may lead to a sharp breakout. I mpulsive Breakout Candle: The recent trend line break was backed by an impulsive candle, establishing a local high and validating early bullish acceptance. XRPUSDT (4H) Chart, Source: TradingView XRP’s current consolidation at support is more than just a pause, it’s a potential base. Price is respecting a long-term trend line that intersects perfectly with high-timeframe horizontal support and the 200-day moving average, forming a strong technical confluence. This level has consistently held across multiple timeframes, and recent price behavior confirms that bulls are actively defending the zone. Adding to the case for bullish continuation, the volume profile shows a significant decline during this retest. This low-volume environment is often indicative of accumulation, a phase that typically precedes expansion, especially when paired with structural strength. Once volume returns, price often moves decisively in the direction of the dominant trend, in this case, upward. You might also like: Buyers are winning big in BlockDAG while Solaxy hits $43M and BTC bull raises $6.7M The recent breakout above the trend line was confirmed by an impulsive candle that printed a new local high. Price is now undergoing a bullish retest of that breakout zone. If this retest holds and forms a higher low, it will solidify a new bullish market structure and open the door to a move toward the swing high and potentially beyond. What to expect in the coming price action If XRP maintains support and volume re-enters the market, expect a continuation toward recent highs. A confirmed higher low in the current retest zone will signal a structural shift and the potential start of a new rally. Until volume returns, however, the risk of continued sideways price action remains. Read more: Bitcoin price could reach reach $125k in June: Bitfinex

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