Analysts highlight that XRP's price rise is supported by technical indicators and resistance levels that have been surpassed.
Technical Analysis Findings
The technical analysis indicates that XRP is experiencing increased buying pressure after breaking the four-hour resistance level. Expert Dark Defender noted that if XRP surpasses the critical resistance at $3.39, the upward trend could continue.
Market Expectations
Experts indicate that if XRP maintains its support levels, it could reach $3.80 and then $5.85. The inclusion of Ripple's token in strategic reserves and increased demand could affect market dynamics.
Current State and Forecasts
Currently, XRP price is $2.61. Despite a nearly 7% increase over the last 24 hours and a decrease in trading volume, market capitalization continues to rise. The technical developments in XRP may support the potential price increase, and investors are advised to closely monitor the specified support and resistance levels.
Technical and market indicators suggest a possible rise in XRP's price in the future. Investors should consider market dynamics and trading volumes for trend forecasting.
