XRP is approaching a critical resistance level at $2.60, with analysts closely watching $2.77 as the key breakout zone. A sustained move above these levels could pave the way for a long-term surge toward $5.85. As market sentiment improves, traders are speculating whether XRP can maintain its bullish momentum or face a pullback before the next leg up.
XRP Tests Key Resistance Levels
Crypto analyst Dark Defender has highlighted $2.60 as a decisive price level for XRP. If the altcoin successfully breaks through $2.77, it would confirm a bullish continuation. Additionally, XRP has been forming higher lows, signaling strong buying pressure and an uptrend in the making.
Technical indicators also support the bullish outlook. The Relative Strength Index (RSI) has been forming an upward trend, indicating growing demand for the asset. If XRP maintains strength above $2.60, the next price targets stand at $2.85 in the short term and $5.85 in the long run. However, failure to break resistance could see XRP retesting $2.33 as a support level.
Bullish Technical Patterns in Play
Adding to the optimism, analyst Thom Sieloff has identified a cup and handle formation on the daily chart. This classic bullish pattern suggests that XRP is primed for a breakout around $2.68 to $2.70, historically leading to 20-30% gains. If this pattern plays out, XRP could target $3.36 before facing further resistance.
Meanwhile, Egrag Crypto has suggested that if XRP closes above $3.00 on the monthly chart, a massive rally could be in motion. He even speculates that breaking higher resistance levels could push XRP toward $67 in the long term. However, he also cautioned about a potential short-term pullback, with XRP possibly retesting $0.90 before a major rally unfolds.
Also Read: XRP Lawsuit: Settlement Likely by May 2025, Says Legal Expert
Institutional Interest and Market Impact
Beyond technicals, institutional interest is fueling XRP’s bullish outlook. Growing capital inflows into cryptocurrencies, including the buzz around MicroStrategy’s ETF, could trigger an altcoin rally. If XRP confirms its breakout, it could set the stage for a broader altcoin season.
However, regulatory concerns remain a wild card. The SEC’s regulatory stance on XRP and other digital assets continues to influence investor sentiment. While XRP has shown resilience against past regulatory challenges, broader market stability will be key for sustained growth.
Can XRP Lead the Next Altcoin Rally?
A successful breakout above $2.77 could position XRP for a powerful rally, potentially setting the stage for a move toward $5.85 and beyond. With strong technical formations, institutional demand, and an improving market outlook, XRP’s trajectory remains bullish—provided it can clear key resistance levels.
Will XRP maintain its momentum, or will resistance levels hold strong? Investors are watching closely as the altcoin approaches a decisive 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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