- XRP holds above the key $3.40 Fibonacci level, signaling strong bullish momentum and potential for a $4 surge.
- Analysts eye $3.12 as a healthy retest zone, which could serve as a launchpad for a stronger breakout.
- $10.73B in daily volume and a $204B market cap highlight XRP’s solid standing amid the current crypto uptrend.
XRP is primed for a breakout as the overall crypto landscape is witnessing a bullish momentum regain. XRP is once again gaining momentum following weeks of volatility and consolidation induced by macroeconomic developments.
Technicals are providing positive signals, and investors as well as traders are now monitoring XRP’s advancement towards a crucial Fibonacci retracement level where it could trigger the next large bull run.
For now, XRP is trading at $3.45, having registered a modest 0.15% gain in the last 24 hours. The token has a 24-hour volume of $10.73 billion and a market cap worth $204.10 billion, making it one of the top altcoins doing well in the current market cycle.
Crypto commentator EGREG CRYPTO recently shared key observations on X (formerly Twitter), announcing that XRP holding above the 1.0 Fibonacci level of $3.40 is a very bullish sign. However, he also cautioned that the coin is still within a downtrending channel, so a test for the 0.888 Fibonacci level of $3.12 is still on the table.
According to the analyst, such testing would not necessarily prove bearish per se. It might act as a springboard for an even more powerful upward movement.
“Staying above Fib 1.0 ($3.40) is BullishAF,” stated EGREG CRYPTO. “But if we indeed return to $3.12, that would also be a critical point for a healthy retest, setting the table for the next pump.”
Also Read | Explosive XRP Pump to Multi-Month Highs: Is $4 Around the Corner?
XRP Eyes Big Move as Accumulation Grows
Two eventualities now exist: If the coin can sustain above $3.40 and avoid a retest, it would confirm the strength in the existing bullish momentum. Alternatively, a fall to $3.12 might establish new accumulation and assist in getting this support level established, providing momentum for a more powerful breakout.
XRP’s community is positive overall, referring to themselves by the term XRPFamily as well. All seem to believe the altcoin is long overdue for a significant run-up, especially considering on-chain indicators consistently demonstrate growing accumulation.
With the broader crypto market recuperating and altcoins again receiving attention, XRP’s technical placement, increasing volume, and favorable momentum all point towards the potential for a big breakout. The coming days are pivotal in determining whether XRP manages to sustain this movement and reclaim higher ground.
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