- XRP’s breakout above $2.50 could target $2.60–$2.90 resistance levels.
- A sustained move above $2.40 may trigger a bullish trend toward $3.00.
- Failure to break $2.40 could lead to a retracement to $2.20 or $1.60.
XRP seems to be approaching a possible breakout in the cryptocurrency market, and the space is relatively active. XRP is presently hovering around $2.44 and in the last 24 hours, it has gone up by 5.23% based on the trading volume which is more than $10.3 billion at present.
Short-Term Outlook: Bullish Momentum Builds
According to EGRAG CRYPTO analysis on an hourly timeframe, XRP is aligning with a bullish “Green Route” scenario. The immediate goal for bulls lies in securing a breakout beyond $2.50.
Achieving this milestone could open the path to higher resistance levels, with targets at $2.60 and $2.70–$2.90. To sustain upward momentum, XRP must not only surpass $2.50 but also establish it as a robust support level.
In the event of a breakout, market participants expect XRP to build toward $3.00 a significant psychological and technical barrier. The short-term focus remains on strong buying pressure, which could catalyze a sustained rally in the coming days.
Long-Term Perspective: Breakout from Descending Channel
MackAttackXRP highlights that XRP is ready this weekend with a broader trend analysis on the daily timeframe, showing XRP trading within a descending channel. The price has recently approached the upper boundary of this channel but faced rejection near $2.40. This resistance level remains pivotal as the market awaits a confirmed breakout.
If XRP manages to break out of the descending channel and sustain momentum above $2.40, analysts predict a potential trend reversal. Such a move could drive prices toward the $3.00 resistance, marking a significant upward shift. However, failure to break out might lead to a retracement toward key support levels at $2.20 or even $1.6062.
Key Levels to Watch: Resistance and Support Zones
The immediate resistance stands at $2.40, where XRP has faced selling pressure. Beyond this, $3.00 emerges as the next major hurdle. On the downside, $2.20 serves as the first line of defense, followed by critical support at $1.6062 and $1.5060.