XRP Price Defies Gravity – Are Bulls Primed for the Next Leg Up?

XRP holds firm as traders eye the next potential breakout.

Market momentum builds behind the digital asset, defying broader crypto volatility. The token's resilience sparks speculation about another major push upward.

Technical indicators suggest bullish sentiment remains intact despite recent market turbulence. Trading volume patterns mirror previous breakout scenarios that preceded significant price movements.

Traders watch key resistance levels, knowing that in crypto, today's cautious optimism often becomes tomorrow's 'I told you so' – right before the inevitable correction that separates the diamond hands from the bag holders.

XRP Price Eyes More Gains

XRP price managed to stay above the $2.850 level and started a fresh increase, beating Bitcoin and Ethereum. The price climbed above the $2.9150 and $2.950 resistance levels.

The bulls even pumped the price above the $3.00 level. A high was formed at $3.0365 and the price is now consolidating gains. There was a minor decline and the price tested the 50% Fib retracement level of the upward move from the $2.795 swing low to the $3.036 high.

The price is now trading above $2.950 and the 100-hourly Simple Moving Average. Besides, there is a key contracting triangle forming with support at $2.980 on the hourly chart of the XRP/USD pair.

If the bulls protect the $2.950 support, the price could attempt another increase. On the upside, the price might face resistance NEAR the $3.020 level. The first major resistance is near the $3.050 level. A clear move above the $3.050 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.150 resistance. The next major hurdle for the bulls might be near $3.20.

More Downsides?

If XRP fails to clear the $3.050 resistance zone, it could continue to move down. Initial support on the downside is near the $2.980 level. The next major support is near the $2.9150 level.

If there is a downside break and a close below the $2.9150 level, the price might continue to decline toward $2.880. The next major support sits near the $2.850 zone, below which the price could gain bearish momentum.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.980 and $2.9150.

Major Resistance Levels – $3.050 and $3.120.