XRP is experiencing strong bullish momentum, breaking past $2.50 with an 11.6% increase from the previous close. This surge follows a breakthrough at the $2.30 resistance.
XRP Breaks Through Resistance
Recently, XRP has successfully broken through a significant resistance at $2.30, which had been tested multiple times before. The price then climbed past $2.42 but faced resistance at $2.59.
What's Next for XRP?
If the current bullish trend continues, buyers could push XRP towards the $2.71 mark, potentially serving as a stepping stone towards the critical $3.00 level. However, potential selling pressure around $2.59 may lead to a correction.
Possible Downside Risks
If sellers gain control, the pullback could extend towards $2.30, an essential area to watch as it could indicate further market weakness if breached.
Support and resistance levels play a crucial role in XRP's current price action. Investors and traders are advised to monitor these levels closely as they could determine future price movements.
