XRP moved higher briefly on Wednesday, but the move didn't hold as bitcoin slid on profit-taking.

XRP moved higher briefly on Wednesday, but the move didn’t hold as bitcoin slid on profit-taking following its move to near $80,000 in Asian morning hours Thursday. Sellers stepped in near resistance and pushed price lower, suggesting the market still lacks conviction to break out, especially as broader crypto sees profit-taking led by bitcoin. News Background • GraniteShares has pushed back the launch of its 3x leveraged crypto ETFs to May 7, including XRP products. The delay removes a near-term catalyst that could have boosted speculative demand. • The proposed products would offer both long and short exposure, amplifying daily price moves and potentially increasing volatility once live, particularly among retail traders. Price Action Summary • XRP tested the $1.44 level before reversing and slipping back toward $1.42. • The move failed to sustain above resistance, with selling pressure accelerating into the close. • Price is now drifting back into its prior range after the rejected breakout attempt. Technical Analysis • The key signal is the rejection at resistance. Buyers pushed price higher but couldn’t maintain control. • Volume picked up during the move, but lacked follow-through needed to confirm a breakout. • The broader structure remains range-bound, with no clear shift in trend yet. • This kind of failed breakout often leads to either consolidation or a deeper pullback. What traders should watch

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