XRP maintains stability, holding above $2.950. Current technical setups indicate the potential for new highs.
Current State of XRP
XRP demonstrates strong resilience above the $2.950 zone, signaling a potential continuation of its bullish trend. Unlike Bitcoin, which faced difficulties, XRP continues to grow steadily, remaining above key support levels.
Growth Prospects for XRP
Currently, XRP is consolidating gains above the $2.920 and $2.950 levels and trading significantly above the 100-hourly Simple Moving Average. Bulls remain in play as a rising channel forms, with immediate resistance near $3.120. A breakout at this level would pave the way for new targets above $3.150 and $3.250.
Risks and Technical Indicators
If XRP fails to clear the $3.120 resistance, a pullback could occur. Initial support is found around $2.990, with stronger support at $2.950. A close below $2.950 may trigger a deeper correction to $2.920.
XRP price remains strong above the $2.950 support, gearing up for another breakout attempt. A decisive move above $3.120 could confirm renewed bullish momentum.
