After a brief dip below the $2.76 support level, XRP is showing signs of a strong rebound. The token has reclaimed the $3.00 mark and traders are eyeing a potential target of $3.60. Key indicators suggest a continued uptrend with momentum cooling slightly, but not enough to signal bearish sentiment.
Recent trading activity on the 4-hour chart shows XRP facing resistance near $3.10. While this level has served as both support and resistance in recent weeks, it could be overcome, leading to a further rise. The next key resistance is near $3.25, which previously blocked several rallies. If buyers push price beyond this zone, XRP could aim for the $3.60 target.
Long-term analysis by market experts indicates a decisive shift in XRP’s performance against Bitcoin. The chart from Kraken shows a converging triangle pattern where an 8-year downtrend is about to be broken. This breakout would mark the first movement above this structure since 2017, but past attempts have been rejected.
Current indicators also suggest a neutral trend.