XRP Shows Bullish Potential as Technical Indicator Signals Rebound
XRP is maintaining support levels after significant gains but faces resistance near $2.65. Market dynamics suggest a possible breakout, with traders observing price movements closely.
- XRP has rallied over 50% since April, currently trading above key support levels.
- Technical analysis indicates bullish signals on the hourly chart, with buy indicators suggesting potential short-term rebounds.
- Analysts are divided; some anticipate a new bullish phase, while others warn of possible corrections if higher resistances are not reclaimed.
- If XRP surpasses $2.80, it could aim for major resistance around $3.00.
- Current consolidation is around $2.35 after reaching highs near $2.80, supported by the 200-day EMA and SMA at $2.04 and $2.18, respectively.
- Volume decline hints at buyer exhaustion but minimal selling pressure indicates continued holding by investors.
- A break above the $2.60–$2.65 range may trigger a retest of the $2.80 level.
