- Crypto Busy highlighted XRP’s journey from below $0.80 for five years to reaching new highs in 2024 despite SEC hurdles.
- XRP needs to break above $2.80 for a confirmed breakout, with resistance at $2.96 and $3.30 looming ahead.
- A potential bullish rally could push XRP to $4.20 or higher, but a sharp correction may follow after reaching these levels.
Crypto Busy identified this as one aspect that stands out in the price history of XRP. He pointed to the fact that many ignored its trading below $0.80 for five years before crossing $1 to new highs in 2024. He also explained that the prolonged case with the SEC has been the major problem that led to XRP lower prices in the past.
XRP Price Action & Resistance
As of press time, Ripple token is trading at $2.75, showing a 1.25% declibe over the past day.. For a breakout to be confirmed, the price of cryptocurrency has to go above the swing high of $2.80, as was experienced on February 4. Otherwise, there could be further struggle in the market and the continuation of the resistance.
On shorter time frames, the price fluctuates near a different support zone around its current price level. The resistance levels of XRP further lie at $2.96 and $3.30 in the case it rises beyond $2.80. Experts are hopeful but careful if the rally is actually corrective, then the price cannot go too far beyond the previous high. However, if it rises above the $3.30 level, the market has to determine whether the pullback is total and the uptrend sustainable.
Source: TradingView
XRP Bullish Outlook
If the price goes lower to the support level, some traders may open their pullback positions at this level. However, if the XRP/USD pair goes through it, focus will be shifted to the $3.40 level of resistance. A bullish outlook can occur if the price goes higher touching the January high, $3.40. This would put coin on course to the upside at 4.21or above in a five wave pattern. After such a rally, there would undoubtedly be a sharp correction.
Despite the bullish potential, considerable resistance still lies ahead for Ripple token. Such, a bearish pullback to the support level remains a feasible outcome before an attempt at further upward price increase. For this reason, the best approach to making future movements of token depends on how the coin is able to breach those critical barrier levels and hold the trend.
