Analyst Says XRP Bulls Are Stepping In After Beating This Hurdle
Main Idea
XRP has broken through the $3.14 resistance level, signaling bullish momentum, with potential for further gains if key support levels are maintained.
Key Points
1. XRP broke through the $3.14 resistance level, reaching a high of $3.17, which boosted bullish market confidence.
2. Technical analysis shows support at $3.05, with long lower wicks indicating buyer favor, provided XRP stays above $3.14.
3. The next target for XRP is between $3.30 and $3.35, contingent on maintaining the $3.14 level and increased trading volume.
4. Failure to hold $3.14 could lead to a retracement toward $3.05 or the psychological $3.00 level.
5. Ripple’s ecosystem growth, including the RLUSD stablecoin’s $3 billion monthly volume, supports XRP’s long-term tokenomics and utility.
Description
XRP has flashed signs of renewed bullish momentum after reclaiming a key technical level. Crypto analyst Cryptoes recently pointed out that XRP surged back above the critical $3.14 resistance on the 4-hour chart, a zone that previously acted as a strong barrier for upward movement. Although XRP is currently trading slightly below that level, the broader setup still favors the bulls, provided support holds in the coming sessions. XRP Reclaims Key Resistance Level at $3.14 After days of consolidat...
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