XRP Price Analysis: Signs of a Bullish Breakout

The price of crypto is known for its volatility. In recent times, a positive change has been noticed in the price charts of Ripple’s native token, XRP.

Over the past few months, XRP’s price was affected by bearish divergence, which kept its growth limited. But in recent days, this pattern seems to have ended. Also, the 3-day Relative Strength Index (RSI) for XRP has now moved above its previous levels, suggesting that the coin is gaining strength and could continue moving upwards.

At the same time, XRP has been making headlines in the crypto market after it briefly overtook Tether to become the third-largest cryptocurrency by market value.

The price of XRP has also climbed back above $2.61 for the first time since March 6th, marking a strong recovery for the digital asset. However, at the time of writing, XRP has slipped back to the fourth position.

At the beginning of the year, XRP was trading at a low of $0.34. But since then, the price of XRP has recovered rapidly.

XRP Price Analysis: Signs Of A Breakout

On the daily chart, XRP is trying to break above a key resistance level around $2.45 to $2.46. However, to confirm a breakout, it needs to close a daily candle above this line.

If it succeeds and manages to cross above $2.58 to $2.59, it could mean a major bullish trend for XRP. In other words, if the buyers succeed in pushing the price higher, we might not only see a short-term rally but also a sustained uptrend over the next few weeks or months.

On its way up, the price could face some resistance at levels like $2.77, $2.95, $3.15, and $3.30. However, if the bullish momentum is strong enough, we could see the price move through these resistance levels without any major setbacks.

Some analysts are already suggesting that we may be in a direct bullish phase, with the price aiming straight toward the $5 mark. But in either case, as long as the support holds, the focus will be on higher prices.

In the short term, we could see XRP continue to rise, with a new micro target zone set between $2.77 and $2.97. This range could be an area of interest for traders who are looking for bullish confirmation.