XRP has demonstrated significant positive momentum, breaking decisively out of a prevailing descending channel pattern. This bullish move propelled its price upwards by 34%, reaching levels close to the $2.95 mark.
Key technical levels are now in focus. Firm support appears established around $2.85, enabling the upward trajectory while the asset encounters resistance near $2.96, a level currently undergoing testing.
Supporting this price surge, technical indicators reflect a healthy market structure. The Relative Strength Index (RSI), currently reading 58.41, indicates building momentum without signaling an overbought condition. Further bullish confirmation comes from the Moving Average Convergence Divergence (MACD), which displays a positive configuration consistent with sustained buying pressure.
Market participants are advised to closely observe XRP’s interaction with the critical $2.96 resistance threshold. Its behavior near this level is anticipated to offer insights into the potential near-term price direction.