Will XRP Break Out Above Resistance to Surge Higher?

Ripple’s XRP experienced volatility on May 1st, falling from $2.24 to $2.13 before rebounding. The decline was partly attributed to a failed acquisition bid by Circle and resulting liquidity challenges that triggered liquidations of long positions. While the price has shown signs of recovery above the crucial $2.20 level, high-leverage trading is driving selling pressure, potentially setting the stage for a bullish surge toward the $3 mark. However, technical analysis reveals XRP trapped in a narrow range, with resistance from a descending trendline and potential breakthroughs above $2.33 hinting at further gains.