XRP Surpassed $2.20: Eyes on the $2.35 Resistance

On the morning of June 26, XRP surpassed the level of $2.20, attracting investor interest again. The cryptocurrency is currently preparing to test the strong resistance area in the range of $2.30–$2.35. A permanent breakout above this level could support XRP's upward momentum, bringing the price closer to the $3 level.

In the past, XRP created a solid foundation in the range of $1.92–$1.95, benefiting from the overall optimistic atmosphere in the market. Particularly, the recovery of Bitcoin towards $108,008 and Ethereum towards $2,493 supported the upward movement of the altcoin. The range of $2.19–$2.20 has now become a strong support position.

Technical analyses indicate that if the $2.30–$2.35 band is surpassed, XRP may target the peak of $2.66 it tested in May again. If this level is exceeded, it is estimated that the price could initiate a gradual rise towards the peak of $3.84 reached in 2021.

However, analysts indicate that caution is necessary. XRP is still moving within a structure of lower highs and lows. It is stated that to confirm the end of this downtrend, several daily candle closures above $2.35 need to be observed.

On the other hand, the level of $2.08 stands out as a critical second support point for XRP. Falling below this level could lead to a significant portion of short-term gains being given back. Therefore, maintaining support levels is very important for the continuation of the rise.

A three-wave upward structure is observed in XRP in the short term. Although this formation gives positive signals, technical experts indicate that a five-wave impulse movement is required for a sustainable rally. In such a scenario, it may be possible to quickly exceed the $2.29–$2.32 region.

Overall, the outlook for XRP is progressing in parallel with the positive momentum of Bitcoin and Ethereum. If investor sentiment remains positive, the potential for XRP to reach the $3 level will be strengthened.


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