According to Cointelegraph, XRP's price remained relatively stable on Tuesday, experiencing a slight decline of 0.1% over the past 24 hours, settling at $2.26. Analysts are now focusing on crucial resistance levels that need to be surpassed for XRP to reach the $3 mark. The cryptocurrency must reclaim the 200-day simple moving average (SMA) and close above the $2.20-$2.30 range on the daily chart. The 50-day SMA is positioned at $2.22, while the 100-day SMA is at $2.20. Following this, bulls must overcome the resistance at $2.36, the 200-day SMA, to aim for higher highs above $3.
Historically, converting the 200-day SMA into support has often preceded significant rallies in XRP's price. For instance, when the XRP/USD pair crossed above the 200-day SMA in November 2024, it was followed by a 430% surge in price, reaching a multiyear high of $2.90 on December 3, 2024. Crypto analyst CasiTrades noted that momentum is building, and XRP's breakout is imminent. The analyst highlighted multiple higher lows and the reclaiming of the $2.25 support as classic bullish continuation signals. This level marks the convergence of the multimonth trendline and the 50-day and 100-day SMAs. CasiTrades suggested that once the local resistance at $2.30 is broken, the next likely targets are $2.69 and $3.04.
Pseudonymous analyst Dom observed that XRP is trading above a key breakout zone at $2.25, where all major Volume Weighted Average Prices (VWAPs) and the 160-day downtrend line converge. Dom emphasized that this momentum is crucial for bulls to aggressively push the price, potentially reaching the $2.40s. Additionally, XRP is showing bullish signs against Bitcoin (BTC). On July 6, the XRP/BTC pair broke above a multimonth descending trendline at 0.00002065, which had acted as resistance since March. A retest of this trendline will confirm the end of the downward trend, paving the way for the XRP/BTC pair to break out higher.
The upside for XRP is supported by a growing bullish divergence between its XRP/BTC pair and the relative strength index (RSI). The XRP/BTC pair experienced lower lows between May and July, while the daily RSI ascended from 28 to 55, forming higher lows. This divergence typically indicates weakness in the prevailing downtrend, encouraging traders to buy more during dips as investor interest increases and seller exhaustion sets in. Market analysts anticipate continued outperformance of XRP against BTC, with Mikybull Crypto stating that the pair needs to overcome the resistance at 0.000022 to confirm the upside. Breaking this trendline resistance could lead to a strong rally for XRP. As Cointelegraph reported, an XRP/BTC breakout from a symmetrical triangle could result in 70% gains, potentially pushing XRP's price above $3.
