- XRP gained 16.66% in 24 hours, surpassing USDT in market rankings amid bullish sentiment and regulatory optimism.
- XRP is testing a long-term descending resistance; a confirmed breakout could push prices toward $4.20-$5.00.
- MACD shows decreasing bearish pressure, while RSI at 56.07 suggests room for further upside if buying pressure sustains.
The crypto market expanded quickly after President Trump showed his support toward creating a U.S. Crypto Strategic Reserve. The past 24 hours brought a high rate of growth to XRP as its price climbed to $2.66 with a 16.66% increase. The swift market increase brought XRP to its position as the number three cryptocurrency surpassing USDT in trading volumes. The price has fluctuated between $2.23 and $2.96, indicating strong volatility.
Market participants display a bullish attitude which reveals both increasing demand from investors together with positive regulatory actions. The market capitalization of XRP currently stands at $161.19B while its XRP 24-hour trading volume exceeds $34.50B with market dominance reaching 5.18%. XRP maintains 58B XRP circulating coins from its total maximum allocation of 100.00B XRP.
XRP Key Levels in Focus Amid Breakout Attempt
Analyst World of Charts suggest that XRP is forming a strong bullish breakout attempt from a descending trendline resistance, suggesting a potential trend reversal.Analysis shows a long-term descending resistance line from previous highs, which XRP is now testing. If the breakout is confirmed with sustained buying pressure, it could lead to a strong rally towards the $4.00-$5.00 range in the coming weeks.
$Xrp #Xrp Shows Strength So Far As Compared To Other Alts After Trump's Announcement Expecting Bullish Pennant Breakout Successful Breakout Can Send It Towards 5$ In Coming Weeks. pic.twitter.com/iACRusSNwl
— World Of Charts (@WorldOfCharts1) March 2, 2025
The measured move suggests a potential 60.36% upside, with an estimated target near $4.20 in the short term. The horizontal support around $2.00 has acted as a strong base, preventing further downside. If XRP fails to hold above the descending trendline and faces rejection, it may retrace towards $2.20 or lower.
XRP Indicators Show Mixed to Bullish Momentum
The MACD line shows mixed momentum, with the histogram indicating a recent decrease in bearish pressure as the blue MACD line attempts to stabilize near the signal line. If bullish momentum strengthens, it could support a breakout.
The RSI is currently at 56.07, suggesting a neutral to slightly bullish sentiment, hovering above the 50 level. This implies that XRP is in a neutral zone, allowing room for further upside if buying pressure increases. Thus, XRP’s bullish momentum remains strong, but confirmation above resistance is crucial.
