Amid current recovery, XRP has shown signs of strength in the past hour as it broke out of a resistance line last week. Though the price remained calm ever since as it gathered momentum for the next major move.
XRP’s bullish structure remains valid following the latest price recovery, which is now reaching the recent peak level. This came after bouncing back from around the $2 level two weeks ago.
But the $2.6 level continued to stop bullish actions and the price is now changing hands at $2.56. Despite that, the price still looks strong daily as it poises for more increase.
Currently, the bulls are slowly regrouping and any time from now, they may reclaim the lost $2.9 level, marked as high during the late 2024 rally. A significant break above it should confirm a bullish continuation and at the same time set the stage for a massive gain.
The reverse would be the case for XRP if the price collapses below the mentioned bounce level. Such a scenario is capable of causing a serious setback in the market during this bull season – it is not over yet as bigger moves lie ahead from a technical standpoint.
Considering the slow and steady move in the past weeks, which shows signs of rising demand, we may see more positive actions than negative ones in the coming days. As of now, the bulls are taking charge.
XRP’s Key Level To Watch
Source: Tradingview
The major obstacle for the bulls right now lies at the $2.9 level. Breaking it could skyrocket the price to the all-time $3.3 high before creating a new one probably at $4 in the near term.
While there are currently no signs of the bears in the market, the $2.5 level is now held as support along with the $1.9 level. Lower supports to consider for drops are the $1.63 and $1.28 levels in case of a crash.
Key Resistance Levels: $2.9, $3.3, $4
Key Support Levels: $2.5, $1.9, $1.63
- Spot Price: $2.56
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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