XRP demonstrates strong positions in the price range of $3.05 to $3.10, indicating ongoing accumulation by buyers. Forecasts for further developments remain positive.
Short-Term Structure and Support
On the 4-hour chart, XRP has established robust support in the range of $3.05 to $3.10. This suggests high buyer interest at this level with every retest. The reclaim of the 9 EMA adds optimism to short-term predictions, and with increasing trading volumes and a double bottom formation, a move towards $3.50 is anticipated.
Long-Term Breakouts and Potential Targets
Over the longer term, XRP has concluded years of tight range trading. Upon breaking above the $0.28 level, the price swiftly ascended to $3.28, aligning with the 1.618 Fibonacci extension. Analysts forecast that once XRP hits $3.28, subsequent resistances are expected at $5 and $6.99, corresponding to the 2.618 and 3.618 levels.
Rising Active Addresses and Growing Interest
XRP's network is showing active growth, with more wallets and steadily increasing transactions over the past week. The rise in active addresses indicates growing user involvement and interest in XRP. With trading volume nearly reaching $6 billion, the price of XRP remains firm at $3.15, reflecting a 3.2% gain this week.
XRP maintains strong positions at the $3.05-$3.10 level, and there are reasonable grounds to believe that with increasing trading volume and the number of active users, the asset could demonstrate further growth in both the short and long term.
