XRP Struggles Below Key Resistance as Profit-Taking Risks Emerge
XRP posted an 11% rally on Thursday, breaking above a bull flag pattern that hinted at renewed upside momentum. Despite the move, the token remains capped below $3.65, a critical resistance level marked by a tweezer top—a classic bearish reversal pattern that previously signaled heavy selling.
For bullish continuation, XRP must convincingly clear $3.65. However, on-chain metrics suggest caution. According to Alphractal, XRP’s Net Unrealized Profit/Loss (NUPL) has reached levels last seen near past cycle tops in 2018 and 2021, highlighting elevated unrealized gains and increased potential for profit-taking.
“Such NUPL levels typically precede distribution phases,” Alphractal noted.
XRP Levels to Watch:
- Resistance: $3.38, $3.65, $4.00
- Support: $2.99, $2.72, $2.65
Bitcoin Eyes Breakout as Consolidation Tightens
Bitcoin (BTC) is trading within a descending channel—a common bullish consolidation pattern—after a brief pullback. The bounce from the 50-day Simple Moving Average (SMA) suggests strong structural support and continued market confidence.
A decisive breakout from the channel could clear the path toward new all-time highs above $123,000. However, if BTC dips below $111,965, the risk of a deeper retracement toward $100,000 increases.
BTC Key Levels:
- Resistance: $120,000, $122,056, $123,181
- Support: $111,965, $104,562, $100,000
Ether Confirms Major Breakout, Targets $5K
Ether (ETH) surged past $4,200, breaking out of a multi-year symmetrical triangle that had confined its price action since late 2021. This technical breakout signals the beginning of a new uptrend, supported by rising momentum and increased market interest.
With bullish confirmation now in place, ETH appears on track for a potential retest of its all-time high at $4,875, with upside projections extending toward $5,000.
ETH Technical Levels:
- Resistance: $4,400, $4,875, $5,000
- Support: $4,000, $3,941, $3,737
