XRP price action is exhibiting a significant pattern, nearing its key resistance level of $3.3. Market observers note this movement strongly mirrors the asset’s behavior during its 2017 bull market phase.
Market data underscores this bullish momentum. Trading volume for XRP has surged significantly, exceeding $12 billion within the last 24 hours and showing a notable 32% increase over the past week.
Simultaneously, XRP’s market capitalization has strengthened, surpassing the $185 billion mark. This robust market cap growth reinforces the potential for a decisive breakout above the critical $3.3 resistance zone.
Analysts emphasize that a confirmed close above $3.3, bolstered by the strong underlying volume, would be a key technical signal confirming the breakout and likely initiating a new bullish phase for the cryptocurrency.
The historical context is compelling. During its 2017 bull run, XRP similarly approached and then decisively broke above its previous all-time high of $3.3. That breakout was followed by a substantial price surge, suggesting a potentially analogous outcome could occur if current resistance is convincingly breached.