Ripple's XRP has experienced a surge, now testing the $3.6 resistance level, which could lead to achieving the $4 mark in the near future.
Technical Analysis Shows Potential for Breakout
XRP recently rebounded from the $2.8 support and is now testing the $3.6 resistance level. Technical analyst Shayan noted that the token has established support at $2.8, aligning with key Fibonacci retracement measures. This support zone attracted significant buyer interest, triggering an upswing toward the current resistance range between $3.4 and $3.6, a previous swing high where selling pressure emerged.
Four-Hour Charts Reveal Bullish Structure
Short-term analysis reveals more pronounced bullish characteristics in XRP's price structure. Following consolidation within a bullish flag formation, the market found support at the 0.5 Fibonacci level before decisively breaking higher. The breakout initially fueled advancement toward the $3.6 resistance threshold. Bears regrouped at that level, pushing prices back toward $3.20, creating the current testing phase. Market participants are closely watching whether buyers can generate sufficient volume to overcome the $3.6 barrier.
Market Forecast and Resistance Levels
The path to $4 largely depends on XRP's ability to sustain buying pressure above the $3.6 resistance. Historical price action suggests this level served as both support and resistance in previous trading cycles. Should the breakout scenario materialize with strong volume confirmation, the psychological $4 threshold becomes the next logical target. However, concerns regarding overhead supply remain valid due to the rapid advancement from $2.8 support.
XRP's current technical setup presents a critical juncture for the cryptocurrency, with the $3.6 resistance level serving as a primary determinant for near-term price direction.
