- XRP holds strong at $2.90; breakout could drive higher targets.
- Neutral RSI signals potential for a bullish move in XRP.
- XRP poised for breakout; $3.00 and $3.20 are key targets.
XRP’s recent price action on both the 1-day and 3-day charts shows promising signs for investors and traders. According to @Cryptoinsightuk, XRP is currently in a crucial phase, consolidating near key support levels, which could pave the way for a potential price increase.
On the 1-day chart, XRP is holding strong around the $2.90 level, a critical support area. This stability has kept the price relatively range-bound, suggesting that market participants are waiting for a breakout. The Relative Strength Index (RSI) is in neutral territory, currently reading at 45.95.
This neutral positioning indicates that XRP is neither overbought nor oversold, offering a balanced outlook for the asset. As long as the $2.90 support holds, there could be room for upward movement, with the next resistance potentially forming around the $3.00 mark.
Looking at the 3-day chart, the outlook remains equally positive. The RSI here is slightly higher, at 51.48, which shows a gradual build-up of bullish momentum. The price action on the 3-day chart also reflects a series of higher lows, signaling steady accumulation in the market.
If the price breaks through the $2.90 resistance level, XRP could see a clear path towards higher targets, with the next significant resistance potentially near the $3.20 mark.
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Potential Breakout and Target Levels
Technical indicators suggest that XRP is approaching a key point where a breakout could occur. If XRP manages to push above the $2.90 resistance, the next targets to watch are $3.00 and $3.20, which align with Fibonacci retracement levels. These levels represent potential zones of strong resistance, and a breakthrough could lead to further price appreciation.
Volume data also suggests that there has been significant interest during previous rallies, which could support a future breakout. Although the current volume is somewhat subdued, any increase in buying pressure could fuel a rapid rise in price.
XRP’s price has shown resilience over the past few weeks, and with the neutral RSI on both the 1-day and 3-day charts, the asset is poised for a potential breakout. If the key resistance levels are broken, XRP could continue its upward trajectory towards higher price targets.
Keep an eye on the $2.90 level, as a breach of this resistance could signal the start of a more significant rally for XRP.
Also Read: XRP Price Plunge Amid Ripple’s CTO Announcement
