• XRP might not achieve a record-breaking rally in the coming weeks.
• Traders and investors could watch out for a retest of the HTF resistance zone.

Ripple [XRP] has a bullish market structure on the 12-hour chart once more. But despite the bullish sentiment across the crypto market, XRP was unable to break past the 7-month range it has labored within.

AMBCrypto had earlier reported that a whale had withdrawn 18 million XRP tokens off the centralized exchange Binance [BNB].

This event highlighted that big players were still looking to accumulate, even though Bitcoin [BTC] has vastly outperformed it in recent months.

XRP is headed for the range highs next

The move above the $0.624 level occurred on the 2nd of March and showed a bullish market structure. Since then, XRP has risen to $0.6685 before falling to the $0.52-$0.54 area of interest (cyan box).

This showed that, despite the dip, prices were headed higher at press time.

XRP has traded within a range (purple), with the $0.45-$0.48 being a higher timeframe demand zone and the $0.7-$0.74 being a resistance zone.

Although the RSI was at 55 to show weak bullish momentum, the structure indicated that further gains are expected.

Yet, the OBV has not broken above its 2024 resistance level. This was due to a recent lack of high buying volume even though the indicator tren

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Author: Akashnath S

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