XRP is gaining bullish traction on the 4-hour chart and steadily climbing as buyers step in around key support zones. While the price is showing a series of higher lows, traders are watching the underlying structure to determine whether XRP can sustain this push and break out toward the next target.
Key Resistance in Sight: Can XRP Break Through?
The Crypto Bushman revealed on X that XRP price is trading above the 20-day and 50-day Exponential Moving Averages (EMAs), which is a signal of short-term bullish control. However, the structure is starting to look like the rising wedge, a pattern that is known for sharp breakdowns once momentum fades.
Momentum is already showing weakness, and the Moving Average Convergence Divergence (MACD) is beginning to flatten out. Volume is also drying up; the two red flags suggest that the push could be losing steam.
The $2.35 is the key resistance level, and if it can’t break above this level, the rally could roll over and retest the $2.25 zone, which could act as support, or it could be the start of a deeper correction. However, if bulls can push through the $2.35 with a volume surge, the price could rip toward the $2.50 mark in the leg up.
Crypto analyst Classy also stated that XRP is making a notable move on the daily chart, and printing its second consecutive green candle, which is a signal that buyer interest remains steady and resilient.
Technical indicators continue to support XRP’s recovery, pointing to a breakout above the $2.33 and $2.47 levels last seen in May. Should the altcoin surpass this range, it could set the stage for a sustained rally toward new targets.
Holding Support Could Unlock $2.35 Retest.
TOM B also mentioned on X that the XRP 2-hour chart is showing a descending trendline that continues to act as resistance. The recent price action attempted to break above this trendline but faced rejection, pushing it into a short-term pullback phase.
The price is retreating downward and may retest the critical demand zone of $2.15 and $2.18, an area that has held as support, where buyers have stepped in to defend the price. If it holds again with wick rejection candles, it will signal buying interest and potential exhaustion of selling pressure.
The target of this bounce is the $2.34 to $2.35 range, where the descending trendline resistance awaits, and this level will be the next significant battleground for bulls and bears.
Featured image from iStock images, chart from tradingview.com
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