XRP is trading at $2.33, with a 250% surge and a $121 billion market cap.
Resistance is at $2.46, and support is at $2.09; a breakout could target $4.
XRP price forms a bullish flag, signaling potential rally continuation. The token currently trades at $2.33, reflecting a 250% surge in recent weeks. XRP’s market cap has grown significantly, now standing at $121 billion, with a market cap ratio of 3.2%, showcasing its strong performance in the crypto market.
Ripple’s resilience has been notable despite broader market corrections. Analysts believe this consolidation phase may precede another breakout. Crypto analyst Ali highlighted a potential bullish movement for XRP, noting the formation of a bullish flag pattern. This pattern suggests the token might rally further, potentially pushing toward the $4 level.
The TD Sequential indicator on the 4-hour chart has presented a sell signal, pointing to a possible brief correction. For XRP to maintain its upward momentum, it must break the key resistance at $2.46. A successful breakout could pave the way for a rally to $4, making it highly rewarding for holders. On the downside, failure to hold support at $2.09 could lead to short-term retracements.
What’s Next for XRP?
The technical analysis further reinforces this outlook. The chart indicates resistance at $2.46 and support at $2.09. If XRP breaches the resistance, the price may target the $4 milestone. Conversely, breaking below $2.09 could result in downward pressure.
The RSI currently reads 75.15, indicating overbought conditions. This suggests potential profit-taking or minor corrections in the near term. However, the RSI average of 62.60 reflects strong overall momentum.
Moving averages also point to a bullish trend. The 9-day moving average stands at $2.39, while the 21-day moving average is at $2.09. The crossover of these averages signals a continuation of upward momentum, further supporting the bullish flag formation.
Despite the positive outlook, traders should remain cautious. Market sentiment will likely hinge on XRP’s performance near the $2.46 resistance level. A clear breakout could solidify investor confidence, while a rejection might lead to short-term volatility.
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