XRP is showing signs of renewed bullish momentum as it consolidates around the $2.66 mark. Breaking above the $2.80 resistance could trigger a rally toward $3.00-$3.10. A successful breakout could signal a broader recovery in the altcoin market.
What to Know:
- XRP is showing signs of renewed bullish momentum as it consolidates around the $2.66 mark.
- Breaking above the $2.80 resistance could trigger a rally toward $3.00-$3.10.
- A successful breakout could signal a broader recovery in the altcoin market.
XRP is showing promising signs of recovery as it consolidates around $2.66, potentially setting the stage for a renewed bullish phase. The recent price action suggests increasing momentum, prompting investors to refocus on the $3 psychological level. A successful breach of key resistance levels could pave the way for further gains.
Following a correction earlier in the month, XRP has demonstrated resilience, recovering from the $2.35 support level. By rising above the 200-day moving average, XRP is now testing the 50-day EMA near $2.77, a crucial point that has historically acted as both confirmation and resistance for trend reversals. Holding above this zone and closing above $2.80 could sustain a rally toward the $3.00-$3.10 range.
The Relative Strength Index (RSI) currently stands at 53, indicating a balanced state between buying and selling pressure, ideal for a breakout attempt without overbought conditions. Investors should monitor the resistance zones between $2.77 and $2.90, where XRP has faced repeated rejections. Overcoming this resistance is essential for continued upward momentum.
Should XRP experience a short-term pullback toward $2.55-$2.45, the overall bullish structure must hold to maintain positive momentum. Breaking above $2.90 could trigger short liquidations and renewed speculative demand, potentially driving XRP decisively toward $3.00. Given XRP’s influence on market sentiment, a breakout could signal a broader recovery across the altcoin market.
XRP is at a critical juncture in its recovery, with a confirmed breakout above $2.80 potentially opening the door to $3 and beyond. While failure to break through may lead to another consolidation phase, the market structure suggests a shifting momentum favoring buyers.
Related: XRP Price: $12M Max Pain for Bears
Source: Original article
Quick Summary
XRP is showing signs of renewed bullish momentum as it consolidates around the $2.66 mark. Breaking above the $2.80 resistance could trigger a rally toward $3.00-$3.10. A successful breakout could signal a broader recovery in the altcoin market.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
