- XRP trades at $3.14 with rising volume, but price gains remain limited despite strong market activity.
- A breakout above $3.25 may ignite a rally, while support at $3.05 holds bullish structure in place.
- A close above $3.03 would mark a historic monthly candle, hinting at a major trend shift ahead.
Ripple (XRP) is currently trading at $3.14 with a 0.8% uptick over the previous day. The 24-hour trading volume is now $6.61 billion, representing a 14.69% increase. Nevertheless, despite the high trading volume, the price increase is rather small.
Source: CoinMarketCap
During the last week, the price of XRP increased by 3.18%. Such an incremental rise implies constant purchasing momentum. However, XRP traders are still cautious about the changing trends in the crypto market.
XRP Eyes Breakout Above Key Support Zone
Crypto analyst Alpha Crypto Signal highlighted an important support area between $3.05 and $3.10 on the 4-hour timeframe. This level has maintained its position during several tests. The recent bounce is creating a double bottom. This bullish formation is very common before breakouts on the upside. XRP also recovered the EMA-9. The robust support and increase in volume could lead to a breakout.
Source: X
If the price rises above the $3.25 neckline, a run to the $3.50 level is possible. The bullish outlook continues until Ripple breaks below the level of $3.05. Traders are keeping a close eye on confirmation. A clean breakout would tend to attract even more buyers. The momentum is gaining. Technical indicators back up the bullish market structure.
Also Read: Will XRP Break History Tonight? $3.03 Close Could Signal New Rally
Furthermore, another analyst, Egrag Crypto, mentioned that XRP needs to remain above $3.03 in a bid to close a historic month. There are only 19 hours left. XRP’s first close above $3.03 in a month would be signified by a closing candle above this level.
Source: X
The Relative Strength Index is at 58.67. This reflects only light buying without an overbought picture. The MACD indicator is 0.15480. The signal line is at 0.20849. The histogram lies at minus 0.05369. This further implies losing momentum and a possible bounce.
Source: TradingView
Open Interest and Volume Support XRP Strength
CoinGlass data indicate that volume rose by 12.28%, reaching $10.78 billion. Open Interest increased by 1.72% to $8.67 billion. The weighted OI-funding rate is 0.0063%. These numbers show less aggressive bull buying. Momentum is gradually accumulating. Traders are anticipating the next jump.
Source: CoinGlass
Ripple is on the verge of a critical event. A breakout above the 3.25 position might produce a new upward streak. A breakout to a high of more than $3.03 would be a milestone. The traders are keenly observing that Ripple is about to reach a crucial pivot point.
Also Read: XRP Price Prediction: Whales Scoop Up 60 Million Tokens, Yet Price Action Remains Weak
