As of now, Bitcoin (BTC) price has approached $103,000, Ethereum (ETH) has risen over 19%, and altcoins are following closely.
XRP price breaks through the $2.30 mark, and the SEC has submitted a settlement agreement letter, further boosting market bullish sentiment.
XRP Technical Analysis: Key resistance level at $2.45.
Although XRP has seen a slight increase in the short term, the overall trend has not turned bullish.
From a broader 3-day chart perspective, XRP still shows signs of a bearish trend, continuously experiencing lower highs and lower lows.
To confirm a true trend reversal, XRP needs to break through the key resistance level of around $2.45.
If a strong closing price above this level appears on the daily chart, followed by higher lows, it may signal the start of a new upward trend.
Market sentiment: SEC settlement agreement boosts confidence.
The SEC's settlement agreement with Ripple significantly improves the legal status of XRP, eliminating long-standing regulatory uncertainty.
In addition, Trump stated at the digital assets summit that XRP is expected to become the U.S. government's crypto reserve asset and looks forward to the approval of an ETF tracking XRP this year, which further enhances market confidence in XRP.
Future outlook: Breaking through $2.45 may open a new round of upward movement.
If XRP successfully breaks through the key resistance level of $2.45, it may open a new round of upward movement, with targets potentially pointing to $2.60 or even higher.
However, it is important to anticipate resistance levels between $2.33 and $2.45 before this.
The movement of XRP is still influenced by mainstream cryptocurrencies like Bitcoin and Ethereum.
If these currencies continue to rise, XRP may follow suit and break through the current bearish trend.
Investors should closely monitor the price movement of XRP, especially the key resistance level at $2.45, to determine if a trend reversal signal occurs.
‼️ Risk Warning: Investment involves risks, and as an investor, one should understand all risks in advance and make prudent investment decisions independently.
‼️ All account information content is for reference only and does not constitute any investment advice. If you have any questions or need assistance, please contact me.
