XRP races past $0.395 to post gains of 10% in two days – more to follow?

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Bitcoin [BTC] surged from $21.6k to $24.8k within 36 hours. This near-term rally began on 14 February, but is was unclear whether the run had ended. Meanwhile, Ripple [XRP] also broke the lower timeframe bearish structure.

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A 16 February article highlighted that $0.387 and $0.395 will be significant resistance levels for XRP bulls. These levels were broken cleanly in recent hours of trading. Has the breakout revealed the market’s bullish hand, or will all the gains be retraced?

Source: XRP/USDT on TradingView

The daily timeframe showed the mid-range mark at $0.37 has once more acted as a strong support zone. The breakout past $0.395 meant a move to the range highs at $0.41 was likely. However, the strong gains and the imbalances on the one-hour chart meant buying XRP at $0.4 might not be a good risk-to-reward trade.

The RSI declined from oversold territory. This does not indicate a pullback in the works by itself, but showed that the market could be overextended. The OBV saw a healthy rise to underline demand behind XRP. In the meantime, Bitcoin itself faces resistance in the $24.8k-$25.2k territory. A consolidation phase for BTC could give time for XRP to retrace and surge toward $0.42.

If the bulls are in control of the market, any retracement that XRP notes toward $0.38 or $0.39 would be accompanied by very little selling pressure. Hence, the OBV might not show a large dip.

The $0.384-$0.388 area can be used to re-enter long positions, with a tight stop-loss below $0.38. A deeper pullback beneath $0.38 is likely to