XRP has experienced a notable price surge, climbing 7% amid strong buyer presence in the market.
However, this upward momentum faces a critical test as the cryptocurrency has broken below its established local support level at $3.2704.
Technical analysis suggests that if daily trading closes below this $3.2704 level, a corrective move appears likely. Such a correction could potentially drive the price down towards the $3.10-$3.15 zone.
The possibility for renewed bullish momentum rests on a higher timeframe close. Should XRP manage a weekly candle closure above $3.33, this could signal the potential for further gains.
Currently trading at $3.2394, XRP remains below its recent peak of $3.333 as market participants assess these conflicting technical signals.