XRP Crypto Surpasses $2.28 And Aims For A Major Technical Breakout
The XRP crypto is soaring. Enough to attract attention! The native token of Ripple is indeed approaching a critical breakout zone after reaching $2.28. Analysis of a strategic moment amid explosive volume.
In brief
- XRP crypto reaches $2.28 with a strong increase in volume.
- A break above $2.30 would open the way to $2.50, then $3.
The crypto-asset XRP crosses a new psychological threshold
The crypto market is moving, and so is XRP. With a peak at $2.28, the native token of Ripple is on a sustained upward trend.
Crypto experts also mention a considerable increase in trading volume. This massive flow indeed reflects renewed interest (possibly speculative) around the crypto asset.
That’s not all! The current buzz could also signal a strategic shift in the underlying trend.
Specifically, accumulation signals have been multiplying for several weeks. Recent moves carve out a bullish channel that many crypto analysts can no longer ignore. The crossing of key thresholds also sends a clear message: XRP is entering a sensitive technical phase.
Technical analysis: a bullish triangle ready to break
The daily chart reveals an ascending triangle for the XRP crypto-asset. This is a classic pattern of a compression phase before breakout. The main resistance stands around $2.30 to $2.32. In case of a clear breakout, several levels appear on the horizon:
- $2.50;
- $2.75;
- $3 (the last one being the potential target).
The current support is set near $2.16. It structures the base of the triangle and offers a safety net in case of a pullback. For cryptocurrency traders, this threshold becomes strategic. It signals a possible return point if the breakout fails.
The technical indicators also support this reading:
- The RSI rises without entering overbought territory. This suggests fuel for the price increase of XRP.
- The short-term moving average accompanies the price, proof of solid momentum.
The window is therefore narrowing for XRP crypto. If resistance breaks, the market could trigger a continuation rally. Conversely, a sharp rejection at these levels could trigger a wave of profit-taking. Caution remains essential, despite encouraging prospects!
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.