XRP is showing strong bullish signals, remaining on a positive trend. However, a bearish divergence is forming which has yet to be confirmed.
Current XRP Market Situation
XRP is known for its sharp and fast price movements. Currently, it seems to be in the midst of an upward move, reminiscent of previous volatile cycles. The recent breakout above the $3 resistance level is a strong indication that the asset could be heading toward new all-time highs.
Support and Resistance Levels
If XRP pulls back, there is strong support at the $3 level and even stronger short-term support between $3.30 and $3.40. This area previously acted as resistance but is now turning into a solid base after the recent breakout and retest. On the daily chart, XRP has already confirmed this new support zone after recently bouncing off it, indicating bulls are still in control.
Impact of Bitcoin on XRP and Other Altcoins
As Bitcoin loses market dominance, capital is flowing into altcoins like XRP and Ethereum, giving them room to grow and outpace Bitcoin.
Currently, XRP's price is moving as expected in a bullish pattern. It recently broke above $3.40 and is now stabilizing above that line. It's crucial to watch important support levels as a fall below $2.75 could signal a breakdown of the overall uptrend.
