XRP SURPASSES $2.40 RESISTANCE-CAN THE RALLY PUSH TO $3.40?

XRP has broken through the critical $2.40 resistance level, sparking hopes of a rally to $3.40. This milestone is significant, as nearly $80 million worth of XRP short positions face liquidation risk if the price sustains above $2.40 .

Historically, when short positions are closed due to stop loss or margin calls, the resulting buying pressure can trigger a massive spike in bullish momentum, potentially driving the price toward new highs .

Key Resistance Levels to Watch:

Immediate Resistance:$2.45

Psychologically Important Level: $2.50

Further Resistance Levels:$2.55, $2.65

Potential Target:$2.72 or even $3.40

However, it's essential to note that the bearish pressure remains strong, with three straight red candlesticks on the 1D chart signaling ongoing sell-side pressure .

Additionally, the drop in active addresses on the XRP Ledger adds to the bearish case .

The coming days will be crucial in determining whether investors will double down on XRP or stay on the sidelines. If bulls successfully push XRP past $2.40, a breakout rally could follow, potentially driving the price toward new highs .$XRP #xrp