XRP shows steady growth in the past day, yet aims to maintain its position after recent fluctuations. Let's examine the current market situation and potential forecasts.
Current Price and Market Dynamics
As of now, XRP is trading at $2.26, corresponding to a 4.36% increase for the day. However, over the past six months, the price has decreased by 11.84%, indicating a broader correction after a powerful rise in 2024. At the same time, over the past year, the token has shown a gain of 361%, signifying its strong macroeconomic trends. In the short term, on the one-day chart, there is an increase of 4.47%, while on the one-week level, there is a decrease of 0.19%.
Technical Analysis of XRP
It was previously noted that a classic ascending triangle was forming, which confirmed a breakout above the critical support at $2.10. On the 2-hour chart, it is visible that XRP broke above the triangle resistance and reclaimed the 200 EMA ($2.21), which is a significant trend filter. Three confirmed higher lows since early June have strengthened the bullish bias. The RSI is pushing into overbought territory (75.79), indicating strong momentum but also cautioning about potential short pullbacks.
XRP Price Forecast for the Near Future
Considering the current breakout structure, reclaimed EMA, and strengthening market tailwinds, XRP is well-positioned to target the following levels: short-term resistance at $2.30 and an upside target within the next 7 days at $2.50. Key support must hold at $2.10. As long as XRP remains above the 200 EMA and maintains higher lows, the bullish thesis remains intact.
In the current scenario, XRP is demonstrating positive trends and has the potential for growth. Holding above key levels is essential for realizing the bullish scenario in the near future.
