Key Highlights:
- XRP surged 11% in 24 hours, exceeding the $2 mark amid global geopolitical tensions.
- The cryptocurrency has tested new resistance levels, with notable support at $1.97 and $2.154.
- Analysts’ predictions for XRP vary, suggesting potential rise to $6 but also indicating a possible correction of 25%.
XRP has made significant gains despite increasing global instability, jumping 11% in the last 24 hours and reclaiming the $2 threshold.
The rally follows a tumultuous weekend marked by military operations in the Middle East involving the U.S. and Israel, which momentarily brought the token below crucial psychological support.
Currently established above $2.17, XRP is exploring new resistance levels with strong support at $1.97.
Market Context:
- Global markets are influenced by geopolitical events, particularly those involving Iran, Israel, and the U.S. XRP’s current rise reflects its relative strength amidst this volatility.
- There is an evident uptick in trading volumes, with buyers entering the market around the $1.97 level, leading to a high-momentum breakout that peaked at $2.173.
- Some market analysts now predict a possible escalation toward $6 by the end of the month, while others caution against a potential drop to $1.55.
- Current sentiment is mixed, but data suggests that institutional investors remain engaged.
- Futures trading activity shows an uptick, indicating accumulation rather than distribution.
- The $2.13-$2.15 range is expected to serve as immediate support, signaling a bullish outlook if it remains intact.
Price Update:
- XRP moved from $1.967 to $2.173 in a 24-hour period, reflecting a robust market with bullish activity holding strong.
- The breakout moment occurred during the evening hours with substantial volume, confirming $2.06 as a strong resistance point.
- Initial buyer engagement was recorded at $1.97 with significant trading volume, forming the foundation for this upward movement.
- XRP has established new support levels just above $2.13, remaining strong despite minor fluctuations.
Technical Summary:
- 24-hour price range: $1.967 – $2.173 (10.5% change)
- Strong support at $1.97 and $2.154
- Resistance levels at $2.06 and $2.173
- Notable volume spike during the breakout phase indicates bullish momentum.
