XRP Price Ready to Soar Amid Key Resistance Levels
According to Cointelegraph, the price of XRP remains relatively stable on Tuesday, dipping slightly by 0.1% in the past 24 hours, settling at $2.26. Analysts are currently focusing on the important 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 range of $2.20-$2.30 on the daily chart. The 50-day SMA stands at $2.22, while the 100-day SMA is at $2.20. Subsequently, speculators must overcome the resistance level at $2.36, the 200-day SMA, to target higher levels above $3.
History shows that converting the 200-day SMA into support often precedes significant bullish rallies of XRP. For example, when the XRP/USD pair surpassed the 200-day SMA in November 2024, it was followed by a bullish surge of 430%, reaching a multi-year high of $2.90 on December 3, 2024. Cryptocurrency analyst CasiTrades stated that momentum is building, and XRP's breakout is imminent. The analyst emphasized several higher lows and the reclaiming of $2.25 support as classic bullish continuation signals. This level marks the convergence of several months' trendlines and the 50-day and 100-day SMAs. CasiTrades suggested that once the local resistance at $2.30 is broken, the next targets could be $2.69 and $3.04.
