$XRP has broken out of a descending channel, rising from the $2.88-$2.90 support zone to $3.38. The 4-hour chart shows a bullish structure, with price reclaiming key trendlines and flipping resistances into support. Strong volume suggests active spot and derivatives trading.
📍Key support is now at $3.20, while resistance lies at $3.38-$3.40. Bollinger Bands have widened, indicating increased volatility. EMAs are bullishly aligned, supporting the uptrend.
✅ Derivatives data shows rising bullish sentiment, with trading volume up 190% and open interest increasing 21%. The RSI has cooled from overbought levels, easing short-term pressure.
🔥 For the next 24 hours, holding above $3.20 keeps the bullish case intact. A break above $3.38 could target $3.55-$3.57, while a drop below $3.20 may test $3.09-$3.00 before recovery. The overall outlook leans bullish, but consolidation could occur before further gains.
