XRP Surges 2%—Is This the Start of a Major Bull Run?

XRP just punched through a 2% gain in 24 hours—fueling speculation that this could be the spark for a bigger rally. Traders are watching key resistance levels, while skeptics mutter about 'typical crypto volatility.'

Market sentiment leans bullish, but let's be real—this is crypto, where 'technical analysis' sometimes feels like reading tea leaves. Will institutional interest or another lawsuit dictate the next move? Stay tuned.

The price of XRP is rising today, up by more than 2%, currently trading around $2.30. This move is in line with a broader recovery in the crypto market, with Bitcoin climbing steadily and ethereum leading the pack with an 8% surge. As Ethereum moves higher, many smaller altcoins like XRP are following the trend.

XRP also continues to display a bullish divergence, a signal where the price makes lower lows, but indicators like the RSI show higher lows. This often hints at a possible price bounce.

XRP Finds Support, Eyes New Targets

Looking at the daily charts, XRP recently bounced off a key support zone between $2.00 and $2.10. This area has proven strong in the past, with prices rebounding from here several times. 

If the price falls below $2.00, analysts warn that it could drop toward $1.92-$1.95, and possibly as low as $1.80. But for now, the bullish momentum is holding.

Bullish Pattern Taking Shape

A positive sign for XRP is the formation of a double bottom pattern — also known as a W pattern — on the charts. This pattern often signals a potential upward breakout. If this pattern plays out fully, the next price target WOULD be around $2.44.

However, before reaching that level, XRP could face some resistance NEAR $2.35, an area that previously acted as both support and resistance.

Long-Term Outlook: Could $5 Be Next?

XRP appears to be in the middle of a fifth wave to the upside. This wave started in April after a market correction and could possibly push prices above $5.00 in the coming months, provided current support levels hold.

If XRP stays above the April lows and maintains its upward structure, analysts believe the bullish trend could continue. However, a break below those key support areas might delay the rally, meaning that the market is still working through a correction phase.