XRP Shows Potential Parabolic Momentum After Breaking Major Resistance With Over 70% Gains
2025-07-20 09:29:26
Main Idea
XRP has broken a major resistance level, showing strong bullish momentum with potential for further gains, though short-term overbought conditions suggest caution.
Key Points
1. XRP surged over 70% in weeks, breaking a key resistance level held since 2018, indicating renewed investor interest.
2. Technical indicators like EMA ribbons and volume expansion confirm strong bullish momentum, but overbought signals suggest short-term risks.
3. Critical support and resistance levels to watch are $2.70–$2.90 (support) and $3.60 (resistance), with potential targets up to $8.00 or higher in a parabolic phase.
4. XRP's trading volume remains robust, with Upbit data suggesting possible institutional interest.
5. Long-term projections based on log regression bands place XRP’s next major target near $8.00, with potential extensions to $40 or $100 if momentum persists.
Description
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