XRP Breaks Key Resistance, Sparks Bullish Momentum and Speculation

XRP has broken above a long-standing resistance zone, closing above the $3.03–$3.08 range, which had limited gains for months. This breakout has shifted market sentiment, with traders targeting higher levels as indicators suggest positive momentum.

XRP Market Performance Analysis

The Relative Strength Index (RSI) is at 58, suggesting potential for strong rallies.
Trading volume has increased, indicating growing buyer confidence.
Immediate resistance is at $3.30, with further targets at $3.65 and $4.20.
Support is between $2.72 and $3.00, which bulls must hold to maintain the trend.

Ripple XRP XRPUSD

ETF Speculation Adds Fuel, But Doubts Remain

Speculation about a potential XRP ETF is contributing to market optimism.
XRP's regulatory status remains uncertain in several jurisdictions, impacting ETF likelihood.
Despite speculation, some analysts question XRP’s appeal as a traditional investment vehicle.

Whale Selling and Short-Term Pullbacks

Whales have sold over 160 million XRP recently, possibly for profit-taking and risk management.
XRP has shown resilience around $3 despite selling pressure, indicating strong retail demand.
Support levels between $2.87 and $2.95 could be entry points for bulls targeting a break above $3.30.

XRP's resilience, improving technicals, and adoption narratives suggest potential for a sustained rally, contingent on upcoming market actions.