XRP News Today: Bitcoin Bulls Defend $110,500 Resistance Amid Altcoin Strength

Bitcoin is currently facing resistance near the $110,500 mark, with bulls actively defending key support levels. This defensive stance suggests a potential for upward movement in the near future, not only for Bitcoin but also for major altcoins. The bullish momentum is evident as Bitcoin has been consolidating just below this critical resistance level, encountering persistent selling pressure from bears. However, the bulls have successfully maintained support above key moving averages, particularly the 20-day exponential moving average (EMA) around $107,211. This indicates strong buying interest on dips and a reluctance among investors to liquidate positions prematurely.

Technical analysis reveals that the Bollinger Bands are tightening, a classic precursor to a significant price movement. This tightening suggests that Bitcoin is setting up for an upside breakout, reinforcing the bullish case. However, traders should remain vigilant as a failure to breach the $110,500 resistance could lead to a retracement toward $104,500 or even the psychological $100,000 mark.

Data from CoinShares highlights that Bitcoin exchange-traded products (ETPs) attracted approximately $790 million in inflows during the latest trading week, a slight deceleration compared to the previous three weeks which saw $1.5 billion in inflows. This slowdown is interpreted as a sign of cautious optimism among investors as BTC nears its all-time highs. This measured approach suggests that while confidence remains, market participants are preparing for potential volatility.

Altcoins are exhibiting encouraging signs of strength, with XRP and Ether leading the charge. XRP has sustained its position above the 20-day EMA at $2.20, with the relative strength index (RSI) entering positive territory. This momentum could propel XRP past resistance levels at $2.34 and $2.65, potentially targeting $3.00 if bullish momentum persists. Similarly, Ether (ETH) remains range-bound between $2,323 and $2.738 but is attempting to break above the $2,635 resistance. A successful breakout could open the path to $2,879 and beyond. However, failure to maintain support at the 20-day EMA may extend ETH’s consolidation phase, underscoring the importance of these technical thresholds for future price direction.

Broader market indicators also support the near-term outlook for cryptocurrencies. The S&P 500’s sustained uptrend and potential retest of support levels suggest continued risk appetite among investors, which often correlates with crypto market performance. Meanwhile, the US Dollar Index (DXY) faces resistance near 97.92; a failure to break higher could weaken the dollar and indirectly support crypto assets by making them more attractive as alternative stores of value.

Key altcoins such as Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) are also showing promising technical setups. BNB shows resilience, bouncing off the 20-day EMA at $652 and eyeing resistance at $665 and $698. A break above these levels could trigger a rally toward $732, while a drop below moving averages may see BNB retreat to $636. Solana (SOL) faces a critical test near the 50-day simple moving average (SMA) at $154 after surpassing the 20-day EMA. A decisive move above $159 could lead to gains toward $185, whereas a breakdown below $137 would favor bearish momentum. Dogecoin (DOGE) is attempting a comeback after crossing the 20-day EMA at $0.16, with upside targets at $0.18 and $0.21. Sustained buying pressure could push DOGE to $0.26, but failure to hold support may result in a decline to $0.14. Cardano (ADA) remains anchored near the 20-day EMA at $0.58. A breakout above this level could drive ADA toward the 50-day SMA at $0.64 and the downtrend line, signaling a potential trend reversal. Conversely, a drop below $0.50 would confirm bearish patterns and likely lead to further declines.

Emerging tokens like Hyperliquid (HYPE) have maintained support above the 20-day EMA at $38.41 but struggle to clear resistance at $41.23. A successful breakout here could propel HYPE toward the $42.50 to $45.80 resistance zone. However, a close below the 50-day SMA at $36.60 would signal weakness and open the door to declines toward $30.69.

In conclusion, Bitcoin’s battle near the $110,500 resistance level underscores a critical juncture, with bulls defending key moving averages to maintain upward momentum. Altcoins like XRP and Ether are positioned for potential breakouts, supported by favorable technical indicators and cautious but sustained investor inflows. Market participants should monitor these pivotal levels closely, as a decisive move in either direction could set the tone for the next phase of crypto market activity. Staying informed and responsive to evolving price dynamics will be essential for navigating this period of consolidation and potential volatility.