XRP breaks out of a mid-July descending channel, reclaiming $3.26 as a fresh demand zone.
Price targets stand at $3.50 and $3.70 if XRP maintains momentum above the reclaimed support.
A fall under 3.26 may provoke retesting of the $3.03 support around the 50 SMA.
XRP has moved up and out of an extended falling channel that has controlled the price since mid-July re-establishing a previously violated support at 3.26. The technical signals support this breakout and position it with possible gains to levels of $3.50 and $3.70 resistance points.
XRP Price Breakout and Technical Structure
According to Alpha Crypto Signal, XRP has completed a breakout from its descending channel, marking a momentum shift from bearish to bullish. This structure, dominant since mid-July, was breached after the asset reclaimed the $3.26 horizontal support zone.
This level, previously a resistance within the channel, has now turned into a fresh demand area. Price action shows a clean break above the channel’s upper boundary, followed by a retest of the breakout level. Both the 9 EMA at $3.2667 and the 50 SMA at $3.0113 are trending upward.
Upside Targets and Key Resistance Zones
Provided that XRP manages to stay above the price of the 32610 indicator, the upcoming technical levels are 3500 and 3700. The first significant resistance is the level of $3.50, and the price will break up to the level of $3.70, which is an area of a previous price congestion prior to the breakdown in July.
Volume Confirmation is also an important element in this continuing thrust. An upward consistent buy-side volume would support the argument of continuation rally to the expected questions of resistance.
Risk Levels and Support Zones
A drop below $3.26 would weaken the breakout formation, increasing the probability of a deeper retracement. In such a case, XRP may retest $3.03, which is aligned with the 50 SMA.
If the $3.03 level fails, the price could revisit the lower ranges of the former descending channel. This move would potentially reestablish the earlier bearish trend.At the time of writing, XRP is at the figure of 3.30, which means that XRP has decreased in value in the past day by 1.26 but has grown in the past week by 9.77 percent. The trading volume over the last 24 hours is $6.58 billion, which is an indication that the market has gained added activity.
