XRP Price Hits $2.22, Eyes $2.70 Amid Increased Market Activity

XRP is trading at $2.22, reflecting a 7% increase in 24 hours, with a trading volume of $4.77 billion.

Key insights include:

Analyst Dark Defender suggests XRP is nearing the end of its Wave 4 correction in the Elliott Wave cycle.
XRP touched $2.1937, indicating a potential reversal and entry into Wave 5, signaling a bullish trend.
Support level to monitor is $1.8815; critical resistance levels are $2.222 and $2.40 for a possible breakout.
Ali Martinez identified an inverse head and shoulders pattern that may lead to a breakout toward $2.70 if the neckline at $2.40 is breached.
XRP network activity surged by 67.5%, with active addresses rising from 27,352 to 40,366.
XRP investment products have outperformed Bitcoin and Ethereum funds amidst broader market uncertainty.

XRP Price Outlook

The daily chart shows XRP near the upper Bollinger band, suggesting bullish pressure. A breakout above $2.27 could target $2.40 as key resistance. Conversely, a drop below $2.07 may signal weakness, with support around $2.00 and $1.88.

The RSI is at 56.59, indicating strengthening momentum without overbought conditions. Continued price increase should be accompanied by monitoring volume for the next move.

XRP price chart | Source: TradingView