XRP has seen a notable increase, recently surpassing the $2.950 level, and is now stabilizing as it prepares for potential upward momentum beyond the $3.15 level. After an initial surge, the price experienced some correction from a peak of $3.220, yet it remains above key support levels, including $3.020 and the 100-hourly Simple Moving Average.
Currently, XRP is exhibiting a bullish flag pattern, with its immediate resistance established at $3.10 based on hourly analysis. If the price successfully breaks through the $3.150 resistance level, it could trigger a fresh rally. The recent activity displayed a clear upward trend as XRP rallied past the $2.850 level, outpacing both Bitcoin and Ethereum .
While achieving a high of $3.214, the price subsequently retreated slightly, dropping below the $3.12 benchmark. This adjustment brought the price down past the 23.6% Fibonacci retracement level corresponding to the ascent from a low of $2.6562 to its recent peak. As of now, XRP ’s position above $3.020 suggests potential for further growth.
Looking ahead, resistance levels at $3.10 and $3.150 present significant hurdles. If the price breaks through the $3.20 barrier, it may head toward the $3.250 level, while further gains could push it to reach the $3.350 to $3.420 range. Aiming for $3.50 would present the next substantial challenge for bullish traders.
Conversely, should XRP fail to overcome the $3.10 resistance, the cryptocurrency might face a downward trend. Early support is expected around $3.020, followed by a more critical support level near $2.950, which correlates with the 50% Fibonacci retracement from the recent upward movement. A breach below $2.950 could lead to declines towards the $2.850 support zone, with further drops targeting the $2.70 area.
