The XRP price is showing strong resilience above the $2.950 zone, signaling a potential continuation of its bullish momentum.Unlike Bitcoin, which faced recent struggles, and more in line with Ethereum’s performance, XRP has maintained strength after breaking above key support levels.
Currently, XRP is consolidating gains above $2.920 and $2.950, trading well above the 100-hourly Simple Moving Average (SMA). The bullish outlook is reinforced by a rising channel pattern, with immediate resistance building near the $3.120 mark.
XRP Price Eyes Fresh Gains
XRP successfully climbed beyond the $2.920 and $3.00 resistance levels earlier this week, reaching as high as $3.126 before facing seller pressure near the $3.120 resistance zone. Despite the pullback, the token remains well-positioned to attempt another breakout.
On the hourly chart of the XRP/USD pair (data source: Kraken), a rising channel is forming, pointing to a potential continuation of the upward trend. The immediate upside hurdle sits near $3.065, followed by major resistance at $3.120.
A successful close above $3.120 could push XRP toward the $3.150 resistance, with further gains opening the door for a run toward $3.20 and possibly $3.250 in the short term.
Risk of Another Pullback
If XRP fails to clear the $3.120 resistance zone, the price could retrace. Initial support lies near $2.990, with stronger support at $2.950. A close below $2.950 may trigger a deeper correction toward $2.920, aligning with the 61.8% Fibonacci retracement level from the $2.781 swing low to the $3.126 high. Should bearish momentum accelerate, XRP could test the $2.8620 zone.
Technical Indicators
MACD: Gaining strength in the bullish zone.
RSI: Holding above the 50 level, signaling positive momentum.
Support Levels: $2.990, $2.920.
Resistance Levels: $3.120, $3.150, $3.20.
Conclusion
XRP price remains strong above the $2.950 support and is gearing up for another breakout attempt.A decisive move above $3.120 could confirm renewed bullish momentum and open the path toward $3.20 in the near term.
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