With Bitcoin hovering near $100,000, altcoins have surged back into the spotlight, and XRP is leading the charge. Ripple’s native token has breached a critical resistance level, signaling the potential for a major uptrend. Currently trading at $2.48 with a 7% gain in the past 24 hours, XRP’s next milestone of $3 appears to be within reach. But can this bullish momentum sustain, or will profit-taking stall the rally?
XRP’s Weekend Rally: A $3 Milestone Within Reach?
XRP needs just a 20% rally to hit the $3 mark, a move well within the realm of possibility in the volatile cryptocurrency market. Weekends often see reduced liquidity and trading volumes, creating an environment ripe for significant price swings. If Bitcoin maintains its position above $100,000, it could bolster market sentiment, providing the necessary tailwind for XRP to achieve this ambitious target.
Additionally, XRP’s breakout above its downward-sloping trendline suggests a reversal of its bearish trajectory. This technical indicator signals a shift toward bullish dominance, bolstered by a Relative Strength Index (RSI) of 63, which indicates positive momentum. Meanwhile, the Awesome Oscillator (AO) is in a favorable position, reinforcing the outlook for further gains.
Also Read: XRP Lawsuit Heats Up: Ripple Faces New Appeals Ahead of SEC Showdown
Key Support and Resistance Levels to Watch
To sustain this momentum, XRP must hold its critical support level at $2.23. A breach below this point could trigger a sharp 15% correction, dragging prices down to the $1.95 range. On the upside, breaking through the $2.75 resistanhttps://coinmarketcap.com/currencies/xrp/ce level would pave the way for a sustained move toward $3.
However, caution remains warranted. If bullish momentum weakens, profit-taking could derail XRP’s rally. Conversely, continued optimism in the broader crypto market, driven by Bitcoin’s dominance, could propel XRP to new heights.
Outlook for XRP’s Price Action
The next few trading sessions will be critical in determining whether XRP can maintain its bullish trajectory. If buyers hold the line at key support levels and broader market conditions remain favorable, XRP has a strong chance of reaching $3, marking a significant milestone for the altcoin. For now, all eyes are on Ripple as it navigates this pivotal moment.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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