XRP Eyes New All-Time High After Surging Above $3.00: Can Bulls Sustain Momentum?

XRP gains over 15%, breaking past $3.40 resistance and outperforming Bitcoin and Ethereum. Bulls aim for $3.50 and higher, while downside risks remain near $3.20 and $2.88 levels.

XRP Price Targets New All-Time High as Bulls Push Past $3.00

XRP has shown remarkable performance, climbing over 15% in value and outperforming both Bitcoin and Ethereum in recent trading sessions. The price has successfully surged above the key resistance levels of $2.65, $2.80, and $3.00, signaling strong bullish momentum. Currently trading above $3.20, the cryptocurrency appears poised for further gains, with bulls targeting a new all-time high.

Key Support and Resistance Levels

After hitting a high of $3.399, XRP is consolidating gains, holding above the 23.6% Fibonacci retracement level of its recent rally from the $2.332 swing low to the $3.40 high.

• Immediate Resistance: $3.35, $3.40, and $3.42 levels. A break above $3.42 could pave the way toward the psychological $3.50 barrier.
• Upside Potential: If bulls sustain the momentum, XRP could target $3.65, $3.80, or even $4.00, marking a new all-time high.

On the downside, the price has robust support levels:

• Key Support Levels: $3.25, $3.20 (trend line), and $2.88. A breach of $3.20 could trigger a deeper correction toward $2.75.

Technical Indicators Signal Bullish Momentum

• MACD: The hourly MACD for XRP/USD is gaining traction in the bullish zone, reinforcing the likelihood of continued upward movement.
• 100-Hour Simple Moving Average (SMA): XRP is trading well above the 100-hour SMA, which serves as a dynamic support level.

Market Outlook: A Critical Moment for XRP

XRP’s recent rally demonstrates strong market interest, with the price consolidating near critical resistance levels. While the bullish momentum could propel XRP toward its ambitious targets, traders should remain cautious of potential corrections, particularly if the $3.20 support fails to hold.

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