XRP has shown renewed bullish momentum, surpassing key moving averages as it aims for higher price targets.
XRP Price Analysis: Bullish Outlook
The current bullish trend is expected to target $2.40**, with resistance forming near **$2.30. Previously, XRP traded within a tight range between $2.00** support and **$2.65 resistance before bears pushed the price down to $1.61.
However, buyers have stepped in, capitalizing on the dip to reignite the upward trend. A break above $2.30** could propel XRP toward **$2.65. Conversely, if buyers defend existing support levels, the price is unlikely to fall below the 50-day Simple Moving Average (SMA).
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Key XRP Indicators
Moving Averages:
- XRP initially traded between the 21-day SMA (support) and 50-day SMA (resistance).
- After surpassing the 50-day SMA, the altcoin has maintained upward momentum.
- A drop below the 21-day SMA could trigger a retest of lower support levels.
- Current Price: $2.29
Resistance & Support Levels
| Resistance Levels | Support Levels |
|------------------|----------------|
| $2.80 | $1.80 |
| $3.00 | $1.60 |
What’s Next for XRP?
On the 4-hour chart, XRP remains above moving averages, but faces initial resistance below $2.30**. A breakout above this level could extend gains toward **$2.65.
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FAQs
Q: Will XRP reach $3.00 soon?
A: While possible, XRP must first overcome $2.65 resistance. Market sentiment and broader crypto trends will play a key role.
Q: What’s the risk if XRP drops below $1.80?
A: A breakdown below $1.80** could signal bearish momentum, potentially testing **$1.60.
Q: Is now a good time to buy XRP?
A: Short-term traders may wait for a confirmed breakout above $2.30, while long-term investors could consider dollar-cost averaging.
Disclaimer: This analysis reflects the author’s personal views and should not be considered financial advice. Always conduct independent research before investing.