The price of XRP has been climbing steadily this week, with a strong bullish trend visible on the daily charts. Over the past few days, XRP has posted several green candles in a row, showing the rising buying pressure in the market.
XRP often makes sharp moves once momentum kicks in: either upward or downward. Right now, XRP is clearly in an upward trend, and it recently broke through a key resistance area between $2.55 and $2.62. After this breakout, the next big target for XRP is sitting between $2.80 and $3.00.
However, one concern is that XRP is currently in overbought territory on the daily timeframe. This means that while the price is strong, it could face some pullback or slowdown before attempting another big jump.
What’s Next for XRP Price?
If XRP can successfully break and hold above $3 in the coming days, it could quickly surge toward its all-time high range between $3.30 and $3.40. Historically, XRP has shown a tendency to move fast when it gains momentum and this time might not be different.
If the price struggles around $2.90 to $3.00, support is expected to come back in between $2.55 and $2.62, which was previously a strong resistance zone. As long as the price stays above these levels, the overall outlook for XRP remains bullish.
An expert explained that XRP formed a strong support zone around $1.90, creating a triple bottom pattern. This was followed by an inverse head and shoulders pattern, which helped push the price up.
After breaking important resistance levels at $2.33 and $2.32, XRP surged close to $3.00. Right now, the price is pulling back near $2.77, but if this support level holds, the upward trend could continue.
