1. Technical signals supporting the rise:
- Critical breakout level: If XRP's price holds above $2.22 for 3 consecutive days, it may trigger an upward wave targeting $2.40, then $2.60, and possibly $3.80.
- Strength of technical momentum:
- RSI indicator at 66.12, indicating strong upward momentum without being in the overbought territory yet.
- The MACD indicator is still above the signal line, despite recent weakness in the histogram, requiring buying support to strengthen momentum.
2. Support and resistance levels:
- Major resistance: The current downward trend line at $2.22, where recent candles touch this area. A breakout here could trigger an upward movement.
- Strong support area: Concentrated between $1.80–$2.00, with additional support at $1.00 (intersecting with Fibonacci levels at $1.02).
3. Current market context:
- Price performance: XRP is currently trading around $2.25–$2.29, with a monthly increase of about 4%.
- Trading volume: Sustaining above $2.22 requires support from strong buying volume, otherwise it may retest the support.
4. Short-term forecasts:
- If the price is established above $2.22, it is expected:
- First target: $2.40 (short-term resistance).
- Second target: $2.60 (critical resistance, breaking it may trigger a faster rise).
- Peak scenario: Reaching $3.80 if the technical breakout is coupled with external factors such as ETF fund approvals or positive legal developments.
Trading risks
- Potential retracement: Failure to break may bring the price back to test $2.00–$2.08 (Fibonacci support and recent low).
- Overall market impact: Strong correlation with Bitcoin movements (72% over 24 hours) makes XRP vulnerable to its volatility.#TradingSignals