๐ XRP Soars Higher โ Bulls Target the Next Major Breakout
XRP has climbed past $3.10, with gains exceeding 10% that could push the price above $3.40.
Trading above $3.20 keeps the outlook bullish, with the price holding over $3.220 and the 100-hour SMA.
On the hourly chart, XRP/USD broke above a downtrend line that had resistance at $3.00. If the price stays above $3.220, another upward move is likely.
Over 10% Surge for XRP
XRP formed a solid base above $2.85 before rallying, outperforming Bitcoin and Ethereum. Momentum carried the price through the $3.10 and $3.15 resistance zones, then past $3.20.
The hourly chart confirmed a breakout above the $3.00 trendline, with gains topping 10% and pushing the price beyond $3.30. XRP reached $3.38, holding above the 23.6% Fib retracement of the move from the $2.90 low to the $3.380 high โ signaling potential for more upside.
The price remains above $3.30 and the 100-hour SMA. Resistance sits near $3.40, with a major hurdle at $3.420. A decisive move past $3.420 could open the way to $3.50, then $3.550 or $3.620. Stronger resistance may emerge near $3.750.
Are Pullbacks Limited?
Failure to clear $3.40 could lead to a dip. Initial support lies at $3.250, followed by $3.150 โ the 50% Fib retracement of the rally from $2.90 to $3.380.
A break below $3.150 may bring the price closer to the $3.10 level, with $3.00 being the next major support where bulls may regroup.
Technical Indicators
Hourly MACD: Bullish momentum in the positive zone.
Hourly RSI: Above 50, supporting upward bias.
Key Support Levels: $3.30, $3.250
Key Resistance Levels: $3.40, $3.420
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