Ripple’s XRP has shown positive movement, with the price currently trading above $2.70 after a 6% increase in the last 24 hours. An analyst has pointed out that XRP is retesting a crucial resistance zone between $2.65 and $2.80 on the daily time frame. This range has previously acted as a strong barrier, making it a key level to monitor in the upcoming days. If XRP manages to break above the $2.80 resistance and turn it into support, the next major hurdle would be around $3.
Potential Bullish Pattern in Play
There is a possibility of a bullish “cup and handle” pattern forming if XRP successfully breaks above $2.80. However, this pattern is not confirmed yet and would require a daily close above $2.80 for validation. If the breakout occurs, the technical price target could be near the all-time high of $3.37, just below $3.40.
Short-Term Outlook: Watch for Confirmation
In the short term, XRP is likely to encounter resistance in the $2.65–$2.80 range. It is essential to wait for confirmation of a breakout before assuming a bullish trend. On the support side, XRP has minor support around $2.50, with a more significant support zone between $2.25 and $2.30.
Short-Term Bullish Divergence: Signs of Relief
A short-term bullish divergence has been confirmed, negating the previous bearish divergence seen over the past week. The price had been forming lower lows while the Relative Strength Index (RSI) showed higher lows, indicating the potential for a bullish relief rally. This relief rally is currently unfolding as expected, suggesting further upward movement in the short term or at least sideways price action with resistance near $2.80.
FAQs
Why Is XRP Going Up Today?
XRP’s price is on the rise due to a 6% gain, driven by bullish divergence, strong buying momentum, and the potential breakout above the $2.80 resistance level.
How Much Will XRP Be Worth by the End of 2025?
XRP could reach a high of $3.99 with an average price of $3.07 by the end of 2025.
How High Can XRP Go in 2050?
By 2050, the price of Ripple could potentially reach as high as $418.73.
Stay tuned for more updates on XRP and other cryptocurrencies to stay ahead of the latest trends in the crypto world.