XRP Bulls Eye Breakout as Price Holds Key Support Levels

XRP’s price remained relatively unchanged on Tuesday, registering a marginal 0.1% decline over the past 24 hours and trading at $2.26. Although momentum appears stagnant on the surface, technical analysts suggest a potential bullish breakout may be forming if key resistance levels are breached. Traders are closely watching the $2.20–$2.30 range, which holds both the 50-day simple moving average (SMA) at $2.22 and the 100-day SMA at $2.20. A daily close above this range would be the first major hurdle for bulls. Further up, XRP must flip the 200-day SMA at $2.36 into support to pave the way for a rally toward $3 and beyond. Historical Pattern Points to Potential Rally Historically, XRP has demonstrated strong rallies after reclaiming the 200-day SMA. In November 2024, the XRP/USD pair crossed above this level, triggering a significant price surge of over 430%, peaking at $2.90 by December 3, 2024. This historical trend reinforces optimism among market participants expecting another upward move. Analysts Signal Strengthening Momentum Crypto analyst CasiTrades took to X on Monday to highlight a bullish continuation setup forming on the daily chart. “The momentum is building, and XRP’s breakout is close,” the analyst wrote. CasiTrades pointed to the convergence of the multimonth trendline apex with the 50- and 100-day SMAs around $2.25, noting this as a key support level. “We’re now sitting just below $2.30, our local resistance. Once this level breaks, the next likely targets are $2.69 and $3.04.” In a similar analysis, pseudonymous trader Dom emphasized that XRP had moved above a crucial breakout zone near $2.25. He noted that the area includes all major Volume Weighted Average Prices (VWAPs) and the 160-day downtrend line. “This is the exact momentum bulls need to aggressively show up and it can send [XRP] to $2.40s,” Dom stated. XRP/BTC Pair Shows Bullish Divergence Beyond USD trading, XRP is also displaying strength against Bitcoin. Over the weekend, the XRP/BTC pair broke above a multimonth descending trendline at 0.00002065 BTC. This trendline had acted as resistance since March. A successful retest of this level could confirm a shift in trend, potentially leading to more gains for XRP relative to Bitcoin. Technical indicators further support the bullish outlook. Between May and July, the XRP/BTC pair formed lower lows while its daily Relative Strength Index (RSI) climbed from 28 to 55—creating a bullish divergence. This divergence suggests waning selling pressure and renewed investor interest. Upside Confirmation Nearing Market analyst Mikybull Crypto believes that XRP’s next major test lies at the 0.000022 BTC resistance level. “Break this trendline resistance and XRP will rally strong,” the analyst said. Analysts also noted that a breakout from the symmetrical triangle pattern on the XRP/BTC chart could trigger gains of up to 70%. Such a rally would almost certainly propel XRP’s price above $3, echoing historical price behavior.

Source: CryptoIntelligence