XRP is approaching a key level at $3.30, attracting investors and technical analysts. Following weeks of downward trend, the token could initiate a bullish momentum. Institutional flows and trading volumes will be pivotal in confirming this potential shift.
From a technical perspective, XRP has formed a classic corrective pattern with a bearish trendline, before bouncing from the $3.00 support level. A daily close above $3.30 would constitute a valid breakout, paving the way to the next targets at $3.50 and then $3.70.
However, the weak trading volume tempers optimism. This price/activity divergence could trigger false signals, as breakouts often fail to sustain their initial momentum without volume confirmation.
Looking at indicators, XRP maintains a bullish structure, with the 20 and 50-day moving averages serving as a safety net. Nearly 900 million XRP have been transferred to institutional wallets within 48 hours, strengthening the ETF anticipation hypothesis.
XRP is testing a major resistance level. Breaking through this level will determine the momentum for the coming weeks. For a bullish breakout to be valid and sustainable, an influx of volume is essential. Investors should monitor these two key factors in the hours ahead.
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