Rejection On XRP After Taking Local Highs Into Supply. Here’s What This Means

Crypto analyst CrediBULL Crypto has provided an updated technical analysis on XRP, highlighting potential short-term weakness against the U.S. dollar (USD) and Ethereum (ETH). His recent tweet builds upon an earlier market outlook, reinforcing the likelihood of a correction in XRP’s price action.

XRP/USD Analysis: Local Supply Rejection

In his earlier tweet, CrediBULL Crypto noted that XRP/USD experienced rejection after tapping into a local supply zone. The attached chart illustrates this rejection, with a highlighted red supply area around the $2.78 level. The price had surged into this resistance before retracing, suggesting strong selling pressure.

The analyst acknowledged the possibility of a short-term bounce but remained focused on a larger corrective move. He projected a price sweep to at least $2.20, with a more substantial correction potentially targeting the $1.77 level. These targets align with the chart’s marked demand zone, indicated in green, where stronger support could emerge.

Despite this expected downturn, CrediBULL Crypto maintained a bullish outlook on the higher time frame (HTF), implying that while short-term corrections are likely, they do not necessarily alter XRP’s broader bullish market structure.

XRP/ETH Analysis: Triple Tap Pattern Suggests Relative Weakness

In his latest tweet, CrediBULL Crypto shifted focus to the XRP/ETH pair, identifying a “triple tap” pattern. The second attached chart highlights this formation, where XRP made three attempts to break through a resistance level but failed each time. This pattern is often considered a bearish signal, indicating buyers struggle to sustain upward momentum.

He further suggested that XRP could show short-term weakness against ETH, reinforcing the bearish outlook presented in his XRP/USD analysis. The implication: if XRP underperforms against ETH, it could signal a broader pullback in XRP’s price across various trading pairs.

Short-Term Outlook and Market Implications

Based on CrediBULL Crypto’s analysis, XRP will experience further downside pressure soon. A break below $2.20 would confirm this outlook, with the $1.77 region emerging as a critical level to watch for potential support. Similarly, in the XRP/ETH market, the failure to sustain gains above resistance increases the probability of further declines.

However, the analyst’s commentary on the HTF structure remaining healthy suggests that this correction is not necessarily a trend reversal but rather a natural retracement within a larger bullish cycle. Traders and investors may look for signs of accumulation in the projected demand zones as potential entry points for long positions.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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