The fact that XRP is successfully trading above multiple critical moving averages suggests that it may be about to reverse its trend and make a sustained bullish move. Following its breakout of layered resistance and recovery of its position above the 50-day, 100-day and 200-day EMAs, XRP is currently trading at about $2.26, $2.25 and $2.28 respectively.
Investors should monitor three crucial levels that could impact XRP's medium-term trajectory as the price structure is currently technically in bulls' favor. A bullish milestone has been reached, with XRP's recent breakout above the 200-day EMA. This area, which is currently providing strong support, is essential for maintaining momentum. Further upside is supported by the structure as long as XRP stays above $2.28.
If this were broken, there is be a chance that bearish pressure would return and push the price back toward the 200 EMA from the previous consolidation, which is $2.09. The $2.60 region corresponds to a temporary psychological barrier and recorded a swing high in early May. Bulls will need high volume to break through it because it was the point of rejection during the previous rally. There would probably be a surge in buyer interest and a push toward multimonth highs if the market were to close above $2.60.
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The $3.00 level — a round number and significant psychological barrier — remains the ultimate test in the near future. Although there has not been any obvious technical resistance until now, $3.00 is widely accepted as the next significant level on the market. If it is broken above, a new long-term bull phase may begin.
In terms of technology, XRP is in a good position. The stage is now set for further gains as the price action is comfortably above important EMAs. But in order for that to occur, XRP needs to hold onto the $2.28 break, then $2.60, and then challenge $3.00 — three levels that investors simply cannot afford to overlook.
