Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
XRP
Market context
XRP has been one of the stronger performers in terms of resilience, holding up well despite a weak start to the year across risk assets. The recent bounce in broader markets, driven by a more dovish J Powell and a potential easing of tariffs, has created short-term relief. While this isn't a structural shift in direction, it has opened the door for XRP to grind higher into key resistance - and that's where we begin to get interested on the sell side.
Technical analysis & market mechanics
- XRP is currently trading between local support at $2.26 and local resistance at $2.60 - a range it's respected since early March.
- We've seen repeated bounces off $2.26 with strong demand stepping in, making this a reliable near-term floor/support.
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- A key inflexion took place on 16th Feb - price topped around $2.795 before retracing, marking this as an area to watch, as potential resistance.
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- There are no meaningfully overbought signals on the daily timeframe whilst the RSI is neutral, sitting well below prior rejection points, suggesting room for a further controlled push higher.
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- If $2.60 is breached, this confirms a bullish short-term continuation and opens the door to a move into $2.795.
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- Beyond that, $3.20 marks the final upside target - a strong supply zone and high-conviction short trigger.
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- From a structural standpoint, the broader range between $2.00 and $2.60 continues to define XRP's trading behaviour; the key range low remains at $2.00.
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- Open Interest has climbed from recent lows of $2.9B to $3.95B - a 36% increase, suggesting increased appetite for leverage exposure.
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- Liquidation clusters are forming around $2.50 (above local highs from March 19th) and $2.40 (below short-term support) - this adds fuel for a potential sweep in either direction before a directional move is locked in, we do favour a sweep to the upside.
Cryptonary's take
We believe XRP is set to push higher in the short term with a break out of $2.600 into the trading zone. The structure is firm, funding is light, and there's still space to squeeze higher before reverting lower. Our plan is to capitalise on strength by fading into high-conviction resistance. We begin building short exposure at $2.795, layering again at $3.00 & $3.20. Stop loss is cleanly set above $3.50. This is a playbook-driven setup: disciplined entries into overextension, with a $2.00 reversion target once the move exhausts. No chasing - we wait for the price to come to us, then strike.
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