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XRP Bullish Potential: Can It Break Key Resistance Levels?
Ripple’s native cryptocurrency, XRP, has been trading near $2.30 as it navigates crucial support and resistance levels. Analysts emphasize the significance of breaking critical resistance to sustain upward trends.
In a recent tweet, EGRAG CRYPTO highlighted the importance of XRP closing above $2.62 on the 3-day candle, which could trigger a significant upward move. The community is keenly focused on maintaining XRP’s bullish structure as it awaits its next direction.
XRP faces resistance at $2.90 to $3, where selling pressure has consistently limited further gains. On the lower end, strong support is present near $2, which has been tested multiple times, creating a trading range between $2.20 and $2.70 with recent price movements showing limited activity outside this zone. However, breaking below $2 could lead to further downside, with $1.90 identified as the next potential support level.
To regain bullish momentum, XRP must hold the immediate support near $2.30. A move above $2.62 has the potential to set the stage for a run towards $3, a critical psychological and technical resistance. The optimism surrounding XRP is fueled by Ripple’s approval of RLUSD, which analysts believe could serve as a catalyst for growth.
Ripple’s enhancement of its ideas and interfaces is poised to strengthen XRP’s position in the cryptocurrency community, bolstering its potential for a bullish phase. Despite the recent pullback, analysts are keeping a close eye on key levels, with $2.62 identified as the next significant target. If XRP can surpass this resistance, it may pave the way for a broader upward trend with $3 as the next milestone.
At the time of writing, XRP was valued at $2.30, representing a 2.19% decrease in the last 24 hours, with a market capitalization of $131.45 billion and a daily trading volume of $20.77 billion.
Source: cryptotale.org
