XRP Price Increases 3% with Renewed Investor Interest and Bullish Outlook
XRP has increased approximately 3% in the last 24 hours, trading at around $2.21, with a 120% surge in trading volume indicating renewed investor interest.
This rise coincides with broader market optimism following Bitcoin's path towards $100,000, supported by the Federal Reserve's decision to maintain interest rates. Traders are reallocating profits from Bitcoin into assets like XRP, ETH, and SOL.
Key points regarding XRP's performance:
- A fivefold rally occurred after Donald Trump's presidential win in November 2024, reaching a peak of $3.27 in January.
- XRP has been trading within a range of $2.06 to $2.60, with nearly 70% of volume within this corridor, indicating strong accumulation.
- The $2 level is identified as a critical buy zone, with additional support at $1.90 and $1.44.
- A breach of the $2.20–$2.30 resistance could lead to upside momentum, targeting $2.70.
Technical indicators show:
- Bollinger Bands are tightening, suggesting a potential breakout.
- The RSI is at 54, indicating slight bullish momentum without being overbought.
- The MACD shows a possible crossover above the zero line, signifying early positive momentum.
- The Accumulation/Distribution line is rising, indicating smart money inflows despite price stagnation.
A drop below $1.90 may invalidate the current bullish structure.