XRP Price Hits New Highs, Surging 7% as Market Activity Heats Up

XRP is currently trading around $2.22, marking a 7% rise in the past 24 hours. The cryptocurrency's 24-hour trading volume has also doubled, reaching $4.77 billion — an indication of increased market activity and investor interest.

Key Notes:

* XRP price rose 7% in the past 24 hours as it trades around $2.22.

* Crypto analyst Dark Defender explained that XRP may be nearing the end of its Wave 4 correction in the broader Elliott Wave cycle on the weekly price chart.

* According to him, XRP price touched $2.1937, precisely where he anticipated a reversal based on a smaller time frame wave structure.

* This bounce suggests that XRP could soon enter Wave 5, which typically indicates a strong bullish trend continuation.

* According to Dark Defender, XRP still has three smaller waves left in lower timeframes and investors can keep an eye on the $1.8815 support level.

* The critical resistance levels to watch for a structural breakout are $2.222 and $2.40. If breached, he believes XRP could start a strong bull run.

Popular analyst Ali Martinez provided a bullish outlook on XRP, highlighting the formation of an inverse head and shoulders pattern on the 1-hour chart since March 29.

Martinez predicts that if XRP successfully breaches the neckline resistance at $2.40, it could break out toward the $2.70 mark.

According to Glassnode data, there has been a 67.5% surge in XRP network activity in recent days. The number of active addresses jumped from 27,352 to 40,366 in a single day, suggesting sustained buying interest.

Last week, XRP investment products outperformed Bitcoin and Ethereum investment funds. This notable shift in XRP-based funds came despite ongoing uncertainty in the broader crypto market and investor sentiment.

XRP Price Outlook

On the daily XRP chart, the price is hovering near the upper Bollinger band, suggesting bullish pressure. A breakout above $2.27 could push XRP towards the key resistance at $2.40.

However, a drop below the mid-band (20-day SMA) at $2.07 might signal weakness, with support levels at $2.00 and $1.88.

The RSI currently stands around 56.59, displaying an upward gradient. This indicates strengthening momentum without reaching overbought territory. A further increase could confirm a bullish breakout, but traders should monitor the volume for the next move.