XRP Price Prediction: Breakout of $2.36 Resistance Level Could Spark Upside Rally to $3

XRP has shown upward bullish momentum, evidenced by strong technical indicators pointing to further upside. Crypto analyst Ali Martinez recently noted this, observing that the SuperTrend indicator flashed a buy signal after XRP broke through a key resistance level around $2.36.

Crypto analyst Ali Martinez has noted that the SuperTrend indicator just flashed a buy signal for XRP, suggesting the token may continue upwards.

After a long correction, breakout of a key level may bring new highs. Analysts suggest that the immediate resistance level for XRP is around $2.50 and it may move to higher targets in the range of $2.70 to $3.00 after a successful breakthrough.

Institutions are investing heavily in crypto, with Bitcoin ETFs alone raising nearly $40 billion last year. Analysts note that this shift in market dynamics is evident as investor focus expands toward altcoins, notably XRP and Solana ETFs, resulting in a surge in their prices.

Moreover, XRP’s technical formation of an inverse head-and-shoulders pattern, after breaking through a key resistance at $2.36, signals a potential price target of $3.00 to $3.10. This upward trend is reinforced by both strong institutional interest and favorable technical signals.

This bullish outlook for XRP is also underscored by recent events in Ripple’s notable long-time legal fight against the U.S. Securities and Exchange Commission (SEC).

After a seven-year legal battle, Ripple and the SEC have petitioned the court for a settlement that would reduce Ripple’s financial obligation from an initial $125 million to just $50 million. This development concludes a legal battle that has been ongoing since 2020, resolving much regulatory uncertainty for XRP’s future.

The settlement also marks a significant moment in the broader cryptocurrency landscape, as the SEC’s case against Ripple focused on whether XRP should be classified as a security. A ruling in favor of the SEC could have far-reaching implications for the cryptocurrency industry.

However, with the case now being settled out of court, the broader crypto sector can continue on its path without the uncertainty posed by the SEC’s case.

Moreover, macroeconomic developments, such as the trade agreement between the U.S. and the U.K., have positively impacted the market sentiment on traditional equities and cryptocurrencies.

Finally, Bitcoin’s recent break of $104,000 plus the 26% surge of Ethereum further strengthens the optimism for XRP.