- XRP trades at $2.93 after a 29.55% weekly gain, with daily volume up 26.6% to a massive $9.53 billion.
- Breakout above Fib 1.414 marks a key shift, opening the path to targets at $6.50, $20, and potentially $35.
- Analysts project $17 as a near goal, recommending Dollar Sell Averaging to lock profits during the rally.
Ripple (XRP) is trading at $2.93, marking a modest increase of 4.62% over the past day. The volume of its daily trading has also increased by 26.6% to reach $9.53 billion a day. Within the last seven days, XRP has gained 29.55%, and now analysts and traders are focusing on the coin as they believe it is going to break into high levels.
Source: CoinMarketCap
Crypto analyst Egrag Crypto highlighted that XRP has managed to break through the resistance of the 1.414 Fibonacci Circle, which has remained strong since December 2024. The breakout is being perceived as a significant rearrangement of the market structure of XRP and possibly paves the way to more upside.
Future targets identified by Egrag include $6.50, $20, and even $35 in case of further increase in momentum using a Fibonacci sequence.
Source: X
Also Read: XRP Price Soars Toward $3 as Wallet Growth and Whale Bets Signal $6 Target
Profit-Taking Strategy Tips
It is also indicated that a more near-term and achievable target is $17, referencing the measured move of the chart. Instead of waiting to reach one specific target, he recommends investors apply a Dollar Sell Averaging strategy. The strategy enables traders to safeguard profits progressively and be dynamic as the market develops.
Source: X
CoinGlass data shows that the bullish trend continues. The volume of trading gained 29.44%, totalling $20.33 billion, whereas the open interest grew by 7.67%, up to $8.08 billion. The level of funding, with 0.0125 % is a healthy indication of good sentiment, and no extreme leverage risk is considered.
Source: CoinGlass
XRP Nears Key Resistance
CoinCodeCap Trading advises traders to remain vigilant. With a breakout above the 200-day simple moving average and $2.50, XRP has already crossed the short-term amount set at $3.00. Nevertheless, given that the relative strength index is close to reaching 80, the asset is currently overbought and can experience a short-term correction.
CoinCodeCap advises monitoring the possibility of retracement at the support area of $2.50. They have kept price targets at $3.00 and $3.50, with resistance levels pegged at $3.00 and $3.84. The areas of strong support are marked at $2.50 and $2.00, where the buyers might seek to re-enter the market.
Source: X
The fundamentals of XRP are also optimistic. As the number of XRP in corporate treasury exceeds more than $400 million with potential spot exchange-traded funds coming in 2025, investor attraction is still elevating. The short and medium-term tendencies are bullish, whereas the long-term perspectives are more positive.
Also Read: XRP ETF Trading Volume Soars 5x Amid Investor Rush and Price Rally
