XRP Teeters on Edge of Breakout—$2.29 Resistance Holds Key to Next Leg Up

XRP bulls are coiled for a potential surge as the cryptocurrency tests a critical resistance level. The $2.29 price point—last seen during the 2021 bull run—now stands as the make-or-break threshold for a major rally.

Technical indicators flash bullish: A clean break above this level could trigger algorithmic trading inflows and FOMO buying from sidelined investors. But traders eyeing leveraged positions should note—the same resistance crushed three prior breakout attempts this cycle.

Market makers appear to be building liquidity around the key level, with derivatives open interest climbing steadily. Meanwhile, the ’digital asset analysts’ who called XRP dead in 2023 are suddenly rediscovering their charting tools.

Whether this becomes a genuine breakout or another fakeout hinges on Bitcoin’s stability. Because in crypto, as in Wall Street, the ’smart money’ is usually just the guy who got lucky first.

• XRP is showing clear signs of an imminent breakout, with narrowing Bollinger Bands indicating a potential surge in volatility and strong price movement ahead

• Key technical indicators, including a persistently strong Relative Strength Index (RSI), highlight growing bullish momentum and increasing buyer strength in the market

• Ripple has successfully broken out of a long-standing descending channel, signaling a major shift from a bearish to a bullish trend and opening the door for further gains

Ripple (XRP) analysis shows that XRP might be poised to see a substantial price action. One crypto analyst recently noted that XRP’s chart was showing narrowing Bollinger Bands, which generally means a break would occur. Currently consolidating around the middle line from a recent bounce off lower support, XRP may see a surge in volatility with a strong price action.

At the time of writing, XRP is trading at $ 2.18 with a 24-hour trading volume of $ 2.09B and a market cap of $ 127.51B. The XRP over the last 24 hours is showing stability; however, over the last week, its price is up by 6.63% and showing a potential for the next major rally.

Source: CoinMarketCap

XRP Bulls Eye $2.29 Breakout for Strong Price Surge

A prominent crypto analyst highlighted that XRP appears to be ready for a significant technical breakout, with a number of indicators pointing towards a strong and near-term move higher. One of the best indicators of this is the strong contraction of the Bollinger Bands, a popular chart tool for measuring market volatility.

When these bands contract, it generally precedes a period of increased price action, often leading to strong moves. For XRP, this is happening with a solidly bullish Relative Strength Index (RSI), which still remains in positive ground. This relation of low volatility with persistent buying strength is a classic signal for a breakout.

Experts are looking for the crucial resistance level of $2.29, anticipating a strong breakthrough that barrier could spark a buying trend, catapulting XRP towards major target levels of $2.50-$2.80.

Source: X

One factor supporting XRP’s bullish fundamental sentiment is its recent break above a clearly visible descending channel, a pattern that had dominated its price action for several weeks. Descending channels are typically bearish patterns that consist of a series of lower highs as well as lower lows.

Backing up this break is the firm establishment of a firm support level at $1.87, where price action always found buyers stepping in. This provides a sound cushion beneath present prices, minimizing the risk of declines and boosting bulls’ confidence to push prices higher.

Related Reading: $131,800 in Sight: Bitcoin’s Critical Retest Could Trigger Historic Rally