XRP has demonstrated significant bullish momentum following a key technical breakout. The cryptocurrency reclaimed the critical $2.62 neckline resistance on its 3-day Heikin Ashi chart. This move confirms a double bottom reversal pattern and triggered a notable 7.2% price increase.
Technical analysis now highlights $2.62 as a crucial support zone, while resistance looms at $2.91. A decisive breakout above this resistance level is viewed by market analysts as a potential catalyst for further significant upward price movement.
This strength extends beyond the XRP/USD pairing. XRP gained 7.1% against Bitcoin (BTC), climbing to 0.00002383 BTC. This notable outperformance reinforces the bullish outlook observed in the primary USDT pairing. Crucially, XRP/BTC also mirrors the double bottom pattern formation seen against the dollar-pegged stablecoin.
The established trading range between $2.62 support and $2.91 resistance offers clear parameters for market participants. Technical strategists suggest that a successful retest of the $2.62 support could present a low-risk buying opportunity for traders aiming to position themselves for the anticipated break above $2.91.