Ripple's (XRP) price remains resilient, staying above crucial moving averages and key support levels. A breakout above $2.42 could signal the start of a new bullish trend, pending confirmation from trading volume.
The price of Ripple (XRP) has recently retested the key support at $2.09, a crucial zone for the token. Maintaining above this level indicates a solid bullish technical structure, especially as the price evolves within a positive trend.
Currently at $2.22, XRP has formed an upward trendline that could be liquidated in the coming days. The VPFR on the 4H chart indicates strong liquidity around $2.18, offering a perfect zone for a bounce and for investors to position themselves. This is contingent on XRP maintaining its support at $2.08 and its bullish trend.
The main technical points to monitor on XRP are as follows :
If XRP manages to stay above $2.09 and trading volume begins to intensify, a rotation toward the resistance at $2.42 becomes highly probable. Breaking through this level would potentially mark the beginning of an accelerated bullish trend.
Before that, the resistance at $2.31 will also be crucial for envisioning this potential rise. According to the MRC, XRP could reach $3.3 in the coming weeks if these levels are firmly broken.
Investors and traders should remain vigilant regarding the evolution of volume dynamics, a key element for confirming the strength of Ripple’s upward movement.
Ripple’s technical strength, supported by crucial support levels and positive prospects for future progression, suggests that the bullish trend should continue. For investors and traders, closely monitoring volume evolution and confirmation of key technical signals will be paramount to capitalize on the next phase of XRP’s price surge.
Here’s how to obtain the token on BitMart with ease :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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