No Sell Walls Left Above $5.20 for XRP. Here’s What Is Coming

According to crypto analyst STEPH IS CRYPTO, there are now “no sell walls left above $5.20” for XRP. The implication is clear: XRP may be on the verge of a steep vertical move. This outlook is particularly relevant now, as the asset is trading within a narrow technical range and facing growing underlying pressure.

XRP’s Market Behavior

XRP is currently trading at $3.07, having moved between $2.95 and $3.08 in the last 24 hours. This price action reflects a gradual but determined recovery, with strong support forming just below $3.00. Buyers appear to be defending this level with conviction, using it as a springboard for repeated attempts to break higher.

Despite multiple efforts, XRP has struggled to break above $3.10 to $3.14, a zone that has capped its upside over the past several sessions. However, market structure is beginning to shift. The persistent tests of this resistance suggest growing momentum, and the diminishing volume on each rejection may indicate that sellers are thinning out.

https://twitter.com/Steph_iscrypto/status/1953154105633104349?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

The Technical Setup: Eyeing $5.20

The chart structure over the past month has formed what many analysts interpret as a bullish continuation pattern, with the handle of a classic cup-and-handle formation taking shape. If validated with a decisive breakout above $3.15, the projected target zones extend well beyond $4.50, with $5.20 emerging as the next critical extension.

STEPH IS CRYPTO’s call that no sell walls remain above this level aligns with what some order book snapshots suggest: increasingly thin liquidity between $3.50 and $5.20 on select exchanges. This indicates that once XRP clears the next set of resistances, price discovery could become aggressive, especially with few large-scale limit sell orders to absorb buy-side volume.

Support Zones and Risk Thresholds

Beneath the current level, XRP’s most immediate support lies between $2.90 and $2.95. This region has served as a base during recent pullbacks. The more critical line in the sand remains $2.65, which aligns with the 50% Fibonacci retracement of the latest rally. A loss of this level would significantly undermine the current bullish thesis and invite deeper corrections, possibly toward the mid-$2.00s.

https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

However, price has consistently respected higher lows, and on-chain liquidity suggests accumulation rather than distribution, both of which point to bullish intent.

The Road Ahead

With resistance weakening and buy-side interest gaining traction, XRP appears poised for its next major move. If bulls can finally push through the $3.14 ceiling, the path toward $4.00 and then $5.20 becomes increasingly plausible. Should that happen in an environment of thin order books, as STEPH IS CRYPTO suggests, the ascent could be swift and sharp.

While external catalysts may still influence sentiment, the charts alone tell a compelling story: XRP is coiling beneath a key level with diminishing resistance ahead. If buyers hold their ground, the next phase could see price action move vertically, as predicted.

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 BitcoinLinux’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. BitcoinLinux is not responsible for any financial losses.

---

Follow us on Twitter, Facebook, Telegram, and Google News

The post No Sell Walls Left Above $5.20 for XRP. Here’s What Is Coming appeared first on BitcoinLinux.