XRP demonstrates strong recovery signals with potential to reach $4 as renewed buying pressure and ETF-driven optimism revitalize market sentiment. The cryptocurrency rebounded sharply after touching a critical support level at $2.96, climbing above $3.20 and indicating robust investor interest.
This resurgence follows a significant liquidation event that erased over $105 million in XRP long positions, contributing to a 6.56% weekly price decline. Despite this setback, the rapid recovery underscores market resilience. ETF anticipation appears central to renewed bullishness, with investors positioning for potential market expansion.
Technical indicators highlight $2.96 as essential support while identifying $3.66 as crucial resistance. Maintaining price action above $3.20 could propel XRP toward testing resistance barriers. A breakout beyond $3.66 may confirm bullish momentum and validate the $4 price target.
The convergence of technical recovery patterns, mounting ETF enthusiasm, and strategic investor positioning signals cautious optimism for XRP’s trajectory. Market observers emphasize monitoring these support and resistance levels closely for confirmation of sustained upward momentum.