XRP price surged above $2.95 and reached a high of $3.214, showing strong bullish momentum
Currently trading above $3.020 and the 100-hourly Simple Moving Average with a bullish flag pattern forming
Major resistance levels are at $3.10 and $3.15, with potential targets at $3.25, $3.35, and $3.50 if momentum continues
Key support levels established at $3.02, $2.95, and $2.85
Technical indicators including MACD and RSI suggest bullish continuation remains likely
XRP has demonstrated remarkable price action in recent trading sessions, establishing a strong position above the $3 mark. The digital asset initiated a notable upward movement, breaking through several key resistance levels and reaching a local high of $3.214.The price movement began with a decisive push above the $2.850 zone, quickly followed by successful breaks above the $2.95 and $3.00 resistance levels. This upward trajectory continued until the price encountered resistance near the $3.214 level, where some profit-taking occurred.
Following the recent high, XRP entered a period of healthy consolidation. The price experienced a minor correction, briefly dipping below the $3.12 level. This retracement remained shallow, only reaching the 23.6% Fibonacci retracement level of the upward movement from the $2.6562 swing low to the $3.214 high.
Technical analysis reveals the formation of a bullish flag pattern on the hourly chart, with resistance near the $3.10 level. This pattern, combined with the price maintaining levels above both $3.020 and the 100-hourly Simple Moving Average, suggests the potential for continued upward movement.
The immediate price action shows strong support at the $3.020 level, with buyers actively defending this zone. Additional support levels have been established at $2.950, which coincides with the 50% Fibonacci retracement level of the recent upward movement.
Trading volumes have remained steady throughout this period, indicating sustained interest from market participants. The volume profile suggests genuine buying pressure rather than speculative activity, lending credibility to the current price levels.
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