XRP Chart Reaches Significant 'Open Sky' Level, Analyst Warns

In a new update posted on X, market strategist Dom (@traderview2) argues that a single, clearly defined technical line currently holds the key to the next directional move of XRP. His six-hour TradingView chart shows the Binance XRP/USDT pair peaked at $2.48-$2.50 overnight before stopping precisely at the volume-weighted average price anchored at the all-time high of 2018, referred to as "ATH VWAP," indicated in green. Since the end of January, the significant drop in VWAP has halted any substantial upward attempts and has caused an immediate rejection at a high rate on four separate occasions. The latest breakout has created a short spike up to $2.4082 ( the session's high ) and a stable price of $2.3644, leaving a clear wick just below the VWAP. Dom called this reaction "expected" due to the very clean technical memory of this pair, but he also emphasized that the market has regained an important intermediate pivot point: quarterly VWAP at around $2.30. The analyst notes that this level is currently being "tested back" on the daily; successfully holding there will cause the price to be stuck between the converging support at $2.30 and the resistance at the ATH VWAP near $2.48-$2.50. According to Dom, a decisive closing above the latter level will "open the sky for a bigger breakout" by removing the final barrier that has constrained XRP since the peak in early January of nearly $3.50.

Is XRP About to Have a Major Breakthrough? The order flow data supports the argument of the buyers. Dom tracked aggregate net order flows by trade size and found that orders to buy 10,000–50,000 XRP and 50,000+ XRP have turned positive over the past three days, while smaller buy orders (100–1,000 and 1,000–10,000 XRP) have turned into net negative. He wrote that "The little fish are sold out and the bigger ones are behind it," adding that the dataset is indistinguishable between retail wallets and institutional wallets but is "very unlikely" to point to the internalization of the exchange. The broader market context confirms the feeling of a developing momentum. A separate CoinGlass heatmap on the annual funding rate for perpetual swaps that Dom shared depicts twenty-seven large-cap altcoins from November to May. The graphic highlights two phases - the end of November to December 9 and the first weeks of May. The December cluster coincides with the "peak of altcoins," and he argues that the current cluster represents the most intense speculative pressure since that period. "The strongest move in the altcoin market since November and funding looks like this... I said it last week and I will say it again. The hated rally," Dom argues.

In that context, the immediate technical roadmap remains binary. XRP must first hold the Q2 VWAP of $2.30, a level that has shifted from resistance to support in the past forty-eight hours. Hold that price, and traders will continue to explore the VWAP ATH ceiling. Lose it, and the path of least resistance will revert back to the congestion level around $2.00 that has shaped most of April. But if the buyers ultimately have to accept the declining VWAP – a feat they have not achieved this year – then the analyst sees little supply above until mid $2.70, the lower boundary of the distribution block from late January. As Dom concludes, "Acceptance above the ATH VWAP opens the sky for a larger breakout."