XRP reclaimed the $3.26 level after breaking its descending channel, turning former resistance into fresh demand with bullish momentum intact.
XRP futures volume surged 208% to $12.4B, surpassing Solana, as open interest rose to $5.9B with strong long positions.
Whales purchased 50 million XRP within 48 hours, coinciding with price consolidation above $3.26 and targets at $3.50 and $3.70.
XRP has broken out of a bearish channel, and the trend may have changed to bullish directly because of gaining major support.
Price Breakout and Key Levels
According to Alpha Crypto Signal, XRP has moved above the descending channel that had contained price action for weeks. The breakout also reclaimed the horizontal support at $3.26, converting it into a new demand area. This level is now seen as critical for maintaining bullish momentum.
https://twitter.com/alphacryptosign/status/1954042348268388760
The 4-hour XRP/USDT chart shows price holding above the $3.26 zone while riding the 9 EMA, which is providing intraday support. Immediate upside levels include $3.50, the recent swing high resistance, and $3.70 if momentum increases. A drop back below $3.26 could weaken the structure, opening the possibility for a pullback toward the 50 SMA near $3.03.
Volume and Market Activity
The breakout has been accompanied by a sharp increase in trading volume. Alpha Crypto Signal noted that sustained high-volume buying will be necessary to avoid a false breakout. Coin Bureau reported that XRP futures volume surged 208% in the last 24 hours, reaching $12.4 billion and surpassing Solana’s $9.6 billion.
https://twitter.com/coinbureau/status/1954158220999557248
Open interest climbed to $5.9 billion, up 15%, while funding rates indicate a large presence of long positions. This positioning raises the possibility of volatility if prices reverse sharply, as it could trigger widespread liquidations.
Whale Accumulation and Outlook
Market interest has also been supported by whale activity. Analyst Ali reported that whales acquired 50 million XRP in the past 48 hours. This accumulation aligns with the current consolidation phase above the $3.26 support zone.
For now, the key area remains the recently reclaimed level at $3.26. As long as it stays above it, the bullish objectives remain valid, with 3.50 and 3.70 as the next upside targets. A prolonged movement below this zone may help push the focus toward the levels of $3.03, which is in concurrence with the mid of the previous channel.
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