XRP's monthly RSI nears overbought levels for the first time in three years, signaling strong bullish momentum and investor confidence.
A sharp breakout past $1.30 with a 9.53% gain positions XRP for potential resistance at $1.40 and higher targets like $2.
Analyst shows XRP’s rally potential to surpass $2, with its strong RSI and buying pressure which may lead to a new all-time high.
XRP shows bullish momentum, with its monthly RSI nearing overbought territory for the first time in three years. Analysts CrediBULL Crypto emphasize this as a highly bullish indicator. XRP recently broke past key resistance levels, reaching $1.26 and suggesting that a broader uptrend is underway. With strong momentum on the USD pairing, targets of $2 and potentially a new all-time high are becoming more likely.
Breakout Signals Fresh Rally
The XRP/USD chart highlights a decisive breakout, surpassing $1.30 after weeks of consolidation between $0.40 and $0.80. This breakout reflects a surge in buying pressure, leading to XRP hitting $1.3658, an impressive 9.53% gain. The movement broke past the symmetrical triangle pattern that had formed on November 18, 2024. Furthermore, the sharp rise in price broke prior resistance levels, signaling increased confidence among traders.
Source: CredibleCrypto
Historically, XRP’s major price movements align with RSI peaks. The current RSI level of 68.64 approaches overbought territory, indicating strong market momentum. Besides, the symmetrical triangle’s resolution has paved the way for XRP’s push toward critical resistance at $1.40, a level consistently marked by prior rejections.
Analysts Eye Higher Targets
CredibleCrypto anticipates XRP’s next major milestone at $2, with long-term potential exceeding $3.33, its 2018 all-time high. Notably, XRP has demonstrated a capacity to sustain rallies following sharp rebounds, as seen after its deviation below $0.40. This consolidation phase strengthened support levels, providing a robust base for the recent bullish trend.
Moreover, the current bullish activity is supported by sustained buying pressure and market participation, evident in the green candlesticks on monthly charts. Key levels, including $0.80 and $1.40, may serve as pivotal zones for price action as XRP continues its ascent.
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