CZ Clarifies Advisory Role with Aster, XRP Shows Bearish Signs

Binance founder Changpeng Zhao, also known as CZ, recently clarified his involvement with the perpetual decentralized exchange (DEX) project Aster, stating his role is purely advisory and focused on technology. In a separate market development, the cryptocurrency XRP is exhibiting signs of bearish pressure despite a minor price increase, with technical indicators suggesting potential for further decline.

Changpeng Zhao Details Aster Involvement

During an appearance on an X space hosted by the Aster team, Binance founder Changpeng Zhao provided details about his connection to the project. He emphasized that his capacity is strictly advisory.

Zhao's comments aimed to define the boundaries of his role, particularly distancing himself from regulatory guidance, a sensitive area given his past experiences.

"I only advise them on product and tech, and I do not advise them on regulatory issues. That’s not my scope, that’s not my specialty. I’m not a lawyer. I got into some trouble before with that. I’m just helping them."

Team Composition and Ecosystem Ties

Zhao revealed that the Aster team includes "a couple of ex-Binance people." He described these individuals as "very good people" who have remained active within the BNB Chain ecosystem.

This connection, according to Zhao, provides an indirect benefit to the BNB token, a project he remains closely associated with. He referred to Aster as a "very strong project," highlighting its potential within the decentralized finance space.

Aster Token Performance

The native token of the Aster project, ASTER, has recently experienced significant price volatility. The token reached an all-time high of $2.41 just three days prior to Zhao's comments.

Following this peak, the ASTER token's value corrected. At the time of the discussion, its price had decreased to $1.98, representing a decline of over 18% from its recent high. This performance is characteristic of the high volatility often seen in emerging cryptocurrency projects.

XRP Technical Market Analysis

In the broader cryptocurrency market, XRP has shown modest gains but faces a challenging technical outlook. The digital asset's price has been moving within a tight range, indicating market indecision and a lack of strong momentum in either direction.

Short-Term Price Action (1-Hour Chart)

An examination of the one-hour chart for XRP reveals a period of consolidation. After a price movement from a low of $2.70 to a high of $2.812, the asset has entered a narrow trading pattern. This type of price action can sometimes signal an accumulation phase before a larger move.

However, trading volume has been notably low, which weakens the case for an imminent bullish breakout. For a positive short-term trend to emerge, XRP must decisively break and maintain its position above the $2.80 resistance level. Failure to do so could lead the price to retest the support level at $2.70.

Mid-Term Outlook (4-Hour Chart)

The four-hour chart presents a more cautious, sideways-to-bearish picture. A previous rally attempt failed to sustain momentum after peaking at $2.997, leading the price back into a range between $2.75 and $2.80.

The pattern of lower highs combined with weak volume suggests a lack of buying pressure. The $2.70 level serves as a critical support zone. If this support is breached, analysts suggest a potential decline toward the $2.60 to $2.65 range. Conversely, a sustained move past the $2.85 to $2.90 resistance area would be required to shift the mid-term outlook to bullish.

Long-Term Trend (Daily Chart)

The daily chart underscores the prevailing bearish sentiment. XRP recently experienced a significant price drop from a high of $3.189 to a low of $2.70, forming what technical analysts refer to as a rounding top pattern—a typically bearish indicator.

This decline was accompanied by significant red volume bars, indicating strong selling pressure. While the support at $2.70 has held so far, the major resistance zone between $2.90 and $3.00 continues to prevent any significant upward movement. Until XRP can overcome this resistance with substantial volume, the broader trend remains bearish to neutral.

Analysis of Technical Indicators

A deeper look at various technical oscillators and moving averages provides a mixed but predominantly bearish view of XRP's market position. These indicators help traders gauge momentum and potential future price direction.

Oscillator Readings

Most oscillators are currently in neutral territory, reflecting the market's indecision.

• Relative Strength Index (RSI): At 40.46, the RSI is below the neutral 50 mark but not yet in oversold territory.
• Stochastic Oscillator: A reading of 15.82 is also neutral, leaning slightly toward oversold conditions.
• Momentum Indicator: At -0.31, this suggests a slow downward drift.
• MACD Level: The Moving Average Convergence Divergence at -0.04 is a clear bearish signal.

These readings collectively suggest that while there is no strong directional trend, the underlying momentum is weak and leans negative.

Moving Averages Signal Caution

The moving averages (MAs) present a clear divide between short-term and long-term sentiment. Nearly all short- and mid-term moving averages are signaling bearish conditions.

This includes the 10, 20, 30, 50, and 100-period Exponential Moving Averages (EMA) and Simple Moving Averages (SMA). Such alignment across multiple short-term indicators is a strong signal of downward pressure.

In contrast, the long-term 200-period EMAs and SMAs continue to show a bullish signal. This indicates that while the immediate outlook is negative, the larger market structure has not completely broken down. However, without a significant bullish catalyst, the asset is more likely to test lower support levels before challenging overhead resistance.