Analyst States XRP’s First Area of Resistance In Current Rally

Key Points

1. XRP is trading at approximately $3.43, having gained nearly 20% in a week, with a recent high of $3.65.

2. The $4 to $4.20 range is seen as a critical resistance level, based on historical price action and psychological significance.

3. A failure to break this resistance could lead to a retracement to support levels near $3.00 or $2.65, while a clear break could open the door to higher targets like $4.50 to $5.00.

4. The broader crypto market is experiencing a resurgence, with Bitcoin above $118,000 and Ethereum above $3,600, supported by regulatory developments like the GENIUS Act.

5. Ripple continues to expand its enterprise payment solutions and CBDC infrastructure, particularly in Asia and Latin America, following the 2023 ruling that XRP is not a security.