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- XRP trades at $3.55 with a 33% volume surge, holding strong just below the crucial $4.00 resistance level.
- RSI at 85.34 signals strong buying but hints at a potential short-term pause or mild price correction.
- A bullish breakout pattern drove prices from $1.96 to $3.60, forming solid support near the $3.50 zone.
As of press time, Ripple (XRP) is trading at $3.54, marking a 1.13% increase over the past day. The 24-hour trading volume increased significantly by 33.27% to $9.17 billion. The coin has gone upward by 19.42% over the last seven days. Currently, XRP is converging slightly below the crucial resistance level at $4.00.
Source: CoinMarketCap
BitGuru highlighted a breakout of an inverse head-and-shoulders. This bullish pattern took XRP above $1.96 to a high of almost $3.60. The price is currently trading in a sideways narrow channel. Analysts note that the position above $3.40 can result in a breakout to $4.00.
Source: X
RSI Signals Overbought Strength
The Relative Strength Index (RSI) of XRP stands at an overbought point which is 85.34. The signal presently stands at 79.07 and has large price action indicators on the bullish side. Although it is a sign of great purchasing pressure, the high level of RSI can also be an indication of an imminent short consolidation period or correction.
The MACD line is also at 0.32840 above the signal line at 0.24160, indicating a strong bullish trend. The histogram level of 0.08680 indicates positive movement and rising buying attraction. This arrangement encourages the trend to move higher, and there is currently no indication of a turnaround in the ongoing trend.
Source: TradingView
Also Read: XRP Holders on Alert After Viral Post Hints at Possible Market Shake-Up
Egrag Crypto revealed data on previous market cycles. In the 2017 cycle, XRP has the potential to reach around $33. The 2021 cycle had peaks at near $7.70. The average of these cycles equals something like a rough long-term target of about $20. This forecast is hypothetical, though it has been discussed by the proponents of XRP.
Source: X
Ripple Rally Holds Support
The level of volume in trading is healthy and steady. There is an emerging capitalistic optimism on the technical charts and in the community chats. Analysts note increases in volume as evidence of expanding interest by investors. The current rally has established a strong platform on the $3.50-$3.60 levels.
The short-term perspective will be determined by the capacity of XRP to remain above $3.40. A move above $4.00 would confirm a new leg up. In the event that the price falls below $3.40, a correction to $3.10 may ensue. The traders are cautious but positive.
The existing construction of Ripple favours the bullish extension. The technical and historical indicators, combined with growing volume, indicate more gains. Market observers are now on the lookout for a break $4.00. Meanwhile, XRP is gaining momentum steadily.
Also Read: XRP’s Bullish Momentum: Is $3.40 the Next Target?
