- XRP Price Surge: Can Ripple Break $3 and Beyond?
Ripple’s XRP has been on a strong bullish run, breaking above the $2 mark and continuing to gain momentum. As it heads toward its next key price targets, traders and investors are eagerly watching its progress. However, in the short term, XRP faces significant resistance levels that will determine if it can maintain its upward trajectory.
XRP Breaks Above $2 and Faces Resistance
In the past day, XRP experienced a notable price surge, surpassing the $2 level. Analyst Josh from Crypto World notes that once XRP breaks this psychological barrier, it tends to make swift upward moves. The cryptocurrency is now approaching its next major resistance at $2.50, a level that could be pivotal for its short-term movement.
If XRP manages to push past this resistance, the next target would likely be $2.75, based on historical price action from January 2018, where XRP experienced key weekly closes in that range. As of now, XRP is trading at around $2.73, showing a strong 11% increase.
The $3 Target: A Psychological and Fibonacci Resistance
Looking ahead, the $3 level is the next major milestone for XRP. This level is not only a psychological barrier but also a critical Fibonacci extension point, specifically the 1.618 level. The $3 mark represents a significant resistance zone for many traders, and XRP could face substantial selling pressure at this price. Achieving this target would be a major accomplishment for Ripple and its investors, but before reaching $3, XRP must overcome the immediate resistance at $2.50 and $2.75.
Support Levels in Case of a Pullback
While XRP is currently on a bullish path, it’s important to be prepared for any potential pullbacks. In the event of a price correction, there are two key support levels that traders will be watching. The first is at $2, which has already demonstrated some strength as a support level. Should the price fall further, the next critical support zone would be around $1.60, where previous resistance levels are likely to turn into support.
Ripple’s XRP is showing promising bullish momentum, with $3 being the next major target. The path ahead requires overcoming resistance levels at $2.50 and $2.75, but with continued momentum, XRP could break through these barriers and continue its climb. Traders will also need to keep an eye on key support levels, as any pullback could provide a potential buying opportunity. As XRP eyes $3 and beyond, the coming weeks will be crucial for determining its future price trajectory.
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.
About The Author
