The cryptocurrency market is buzzing once again as XRP - the leading altcoin in the Ripple ecosystem - is approaching the important resistance area around the $3.00 price level, a price that has not been reached since the all-time high (ATH).

At the moment, XRP is trading at $2.91, up 2.15% in the last 24 hours, raising expectations for a breakout in the very near future.

💬 According to the famous analyst Ali Martinez, XRP is 'screaming for a new peak,' as this coin is testing the upper part of the long-term price channel - an area that has served as a resistance ceiling for many years.

If it surpasses and successfully closes the week above the psychological level of $3, then there is a very high chance that XRP will extend its uptrend and move towards the next target in the $4.80 area.

📈 XRP's Bullish Momentum - Data Supporting the Strength of the Surge

Technical factors and on-chain data are reinforcing XRP's uptrend:

  • Open Interest (OI) - an indicator of the amount of open derivative contracts - has surged to $3.409 billion, indicating strong participation from investors and an increasing number of leveraged positions. This often occurs before significant volatility phases.

  • XRP is trading steadily above the 10-period adaptive moving average, a signal that suggests a solid foundation for the uptrend, and the accumulation process is occurring healthily.

🧠 Investor Sentiment & Deciding Price Range

Analysts believe that the next few trading sessions will be crucial, as market sentiment is waiting to see if XRP can:

  • Closing the week above $3 confirms the breaking of resistance.

  • Transforming the $3 price level from resistance to long-term support - a prerequisite for XRP to enter the 'price discovery' phase, meaning an unprecedented price range.

If this happens, XRP will enter a new growth wave that many investors believe could bring it closer to the $5.00 mark in the current market cycle.

📌 Conclusion

After years of fluctuating in the accumulation area, XRP is on the brink of surpassing its historical peak. With strong technical momentum, positive market sentiment, and an increase in derivative trading volume, breaking through the $3 threshold could be the catalyst for a breakthrough growth.

🚨 However, as always, investors should closely monitor price movements and carefully consider risk management strategies in the context of high market volatility.