XRP continues to show positive dynamics in the market, exhibiting a series of green candles. Let's explore the current status of the cryptocurrency and its prospects.
Current XRP Dynamics
Currently, XRP has demonstrated 12 consecutive green candles on the hourly chart. This significant achievement indicates increased buying pressure following a recent drop. The cryptocurrency found support at $3 on July 30 and began a slow rise, trading at $3.16, which is up 1.65% from the previous 24 hours.
Support and Resistance Levels
XRP faces challenges at the $3.173 level, where the 200-period moving average lies. If bulls manage to overcome this resistance, XRP may reach price levels of $3.33 and $3.66. However, if it falls below the $3 support, the next anticipated target would be $2.96, followed by $2.65.
Growth Prospects for XRP
If XRP can break the $3.66 level, it may pave the way for higher prices, potentially up to $4. The overall market condition remains cautious as it awaits economic data, which may also impact XRP's further dynamics.
At this point, XRP shows positive trends; however, further price movement depends on overcoming key support and resistance levels. Investors should closely monitor the situation in the market.
