XRP maintains its bullish structure despite undergoing a corrective pullback. The token remains above a significant support level, opening up prospects for further growth.
XRP's Bullish Structure and Support
XRP demonstrates a bullish structure, setting higher highs and lows while consolidating above strong support around $2.80. This level, which previously served as resistance, is now a crucial base for continuation.
Significance of Fibonacci Levels
A significant technical factor is the untested 0.618 Fibonacci retracement level. A successful retest and hold of this level could lead to the formation of higher lows, creating conditions for another upward move. Historical data shows that XRP has reacted strongly to Fibonacci levels in the past.
Market Demand and Trading Volume
Volume profile data shows consistent demand at support zones. While stronger bullish volume will be required to break through resistance levels, steady accumulation suggests that market participants are positioning for potential continuation. If the local Fibonacci retracement is retested and confirmed, technical projections continue to point toward $4.19 as the next significant extension target.
XRP demonstrates signs of resilience, meeting trader expectations. Strong support levels, Fibonacci levels, and positive market structure create opportunities for further growth.
