XRP is currently trading in a range of around $2.57, having shown significant growth in recent weeks, including a 35% rise over the past week. Key technical levels to watch for include:
1. Current Support: The key support level for $XRP is at $2.30, which has held during recent corrections. A decline could see the price return to $2.175 or even $1.94 in a negative scenario.
2. Bullish scenario: If XRP breaks the current resistance of $2.85, the next targets are $3.00 and $3.30, which correspond to Fibonacci levels and past highs of 2021. The long-term perspective indicates a potential rise to $4.60 in the event of a prolonged uptrend.
3. Market Indicators: The RSI (Relative Strength Index) is currently in the overbought zone, which may indicate a possible short-term correction. Trading volume has decreased, which is typical for periods of consolidation before further moves.
Current forecast:
Bullish scenario: A break above $2.85 could open the way to $3.30 or even $4.60 in the coming months.
Bearish scenario: Failure to consolidate above $2.85 could lead to a correction to $2.30 or below.
Fundamental factors such as the activation of the XRP Ledger network, the increase in the number of active addresses (up to 100 thousand), and support from institutional investors also contribute to the positive outlook for the asset. However, investors should be cautious due to possible short-term fluctuations. $XRP