XRP climbs to $2.40 amid bullish momentum, fueled by strong support levels and V-shaped recovery patterns. Discover key resistance and support zones driving XRP’s next moves.
XRP Tests Key Resistance as Market Eyes $2.90
XRP continues its bullish rally, trading between $2.36 and $2.40 as of Thursday, with traders closely watching its approach to the critical $2.45 resistance level. The cryptocurrency has seen a steady climb since Jan. 1, bouncing back from $2.09 and building momentum amid strong support levels and increasing market activity.
XRP’s current market valuation has soared to $137 billion, with a 24-hour trading volume of $9.65 billion, reflecting heightened investor interest. This surge has been accompanied by an intraday trading range of $2.16 to $2.452, signaling potential breakout opportunities or consolidation.
1-Hour Chart: A Short-Term Bullish Trend
On the 1-hour chart, XRP has displayed a consistent upward trajectory, forming higher highs and higher lows since its start at $2.09 on Jan. 1. As of this writing, the price hovers near $2.40, flirting with the $2.45 resistance. The chart (refer to Image 1below) shows tiny candles, hinting at a momentary pause or an imminent breakout.
Key support lies at $2.40, and traders are eyeing the $2.35 level as another critical zone. A decisive surge past $2.45 could set XRP on a path toward $2.50, while a failure to break through might prompt a pullback to support.
4-Hour Chart: V-Shaped Recovery
XRP’s 4-hour chart tells the story of a remarkable recovery, rebounding from $1.995 on Dec. 30 to its current price of $2.40. The breakout above $2.2 was marked by increased trading volume, highlighting robust buying activity. However, consolidation near $2.45 with lower volumes suggests some profit-taking by investors.
Support levels to watch include $2.2 and $2.3, while a clean break above $2.45 could open the door for XRP to target $2.5 or beyond. See Image 2 above for a detailed representation of this recovery pattern.
Daily Chart: A Strong Bullish Setup
The daily chart offers a broader perspective of XRP’s bullish momentum, showing the token consolidating near $2.1 before breaking through resistance at $2.3. A bold green candle (see Image 3) highlights fresh buying pressure, suggesting continued upward movement.
Critical levels for traders include support at $2.1 and resistance zones at $2.5 and $2.9. Increased volume during the recent breakout reinforces confidence in XRP’s bullish trend, but caution is advised as $2.9 remains a historically significant resistance point.
Mixed Signals from Oscillators
Technical indicators reveal a mix of bullish and cautious signals:
- RSI (59.75): Neutral, indicating no overbought or oversold conditions.
- Stochastic Oscillator (62.44): Neutral, showing balanced momentum.
- Momentum Oscillator: Bullish, signaling upward pressure.
- MACD (-0.04772): Bearish, suggesting short-term resistance ahead.
Other indicators like the CCI and ADX remain neutral, reflecting a balanced market outlook.
Moving Averages Signal Bullish Momentum
Across all timeframes, moving averages maintain a bullish stance. Short- and long-term trends are supported by:
- 10-Day EMA: $2.23, confirming short-term support.
- 100-Day EMA: $1.52, aligning with the broader rally.
These indicators suggest XRP is well-positioned to climb further, giving traders confidence in aiming for higher peaks.
Bull vs. Bear Verdict
Bullish Perspective:
XRP’s breakout above $2.3, coupled with strong support levels and confirmation from moving averages, points to a continuation of its bullish trend. The $2.5 resistance appears within reach, and sustained momentum could propel the price toward $2.9.
Bearish Perspective:
Consolidation near $2.45 and the MACD’s sell signal suggest caution. A failure to maintain support at $2.3 could trigger bearish momentum and signal a potential trend reversal.
What’s Next for XRP?
XRP’s near-term trajectory hinges on its ability to break through the $2.45 resistance and sustain buying pressure. Traders should monitor support levels at $2.3 and $2.2 while watching for a potential push toward $2.9.
Stay updated on XRP’s price movements and market trends. For real-time charts, analysis, and insights, visit reliable crypto news sources or monitor XRP’s performance on trusted platforms.
