XRP's rapid price increase over the past day has caught traders' attention. Analysts highlight a shift in market dynamics with potential for continued growth.
Significant XRP Growth
The price of XRP has surged by 14.62% today, indicating increased market interest in the asset. There's a strengthening of buyer positions that could influence further price dynamics.
Hourly Chart Analysis
On the hourly chart, XRP has set a local resistance level at $2.59. Most of the daily ATR has been passed, which suggests low chances of sharp moves soon.
Weekly Technical Outlook
On a larger timeframe, focus should be on the bar's closure around the $2.64161 level. If the price holds near or above this level, it might facilitate a test of the $2.80 mark. The weekly chart presents a less clear picture, as XRP is far from support and resistance levels. Ongoing consolidation in the $2.40-$2.80 range is likely by month's end.
Currently, XRP is trading at $2.5476. Analysts foresee potential further consolidation with a chance to test higher levels.
