The price of XRP cryptocurrency is drawing attention again after a rise to $3.28. The current dynamics leave room for a possible breakout above $3.30.
Current Market Situation of XRP
XRP reached the level of $3.28, being near a descending trendline that has capped its recovery since the late July peak of $3.50. After a recent rally from the $3.00 support level, XRP is attempting to break through that trendline once again.
Technical Levels and Support
The 50-day EMA at $2.81 serves as strong support for bulls, while the 20-day EMA at $3.07 has remained stable during recent declines. If the price consolidates above $3.30, it could signal the beginning of a new upward leg, targeting $3.50 and $3.70.
Forecasts and Future of XRP
While the technical window is open for a breakout above $3.30, it is important for trading volume to support this rise. If the price fails to break the trendline, a return to $3.07 or even $2.81 could occur before another attempt to move higher.
XRP is demonstrating active movement towards a breakout, but a key factor in determining the long-term trend remains support from trading volumes.
