XRP Price Remains In Strong Uptrend, Aims to Break $3.20 Resistance

In the past few days, XRP saw positive moves and strong bullish reversals. It outperformed Bitcoin and Ethereum and remained supported above the $2.80

XRP price remained in a bullish zone above the $2.80 support zone. The price showed positive signs and might soon aim for a move above the $3.20 resistance.

XRP Price Remained In Strong Uptrend After Outperforming BTC, ETH

In the past few days, XRP saw positive moves and strong bullish reversals. It outperformed Bitcoin and Ethereum and remained supported above the $2.80 support zone and the 50-day simple moving average (blue). The last swing low was formed at $2.660, and the price is now rising.

There was a move above the $2.850 and $3.00 resistance levels. The bulls pumped the price above the 50% Fib retracement level of the downward move from the $3.40 swing high to the $2.660 low.

XRP price is now consolidating gains above the $3.00 level and is well above the 50-day simple moving average (blue). The current price action is positive, but the bulls seem to be facing a couple of major hurdles near the $3.10 and $3.20 levels.

Immediate resistance sits near the $3.10 level. There is also a key contracting triangle forming with resistance at $3.10 on the daily chart. It coincides with the 61.8% Fib retracement level of the downward move from the $3.40 swing high to the $2.660 low.

A close above the $3.10 resistance and the triangle could set the pace for a larger increase. In the stated case, the price could rally and test the $3.25 resistance. The next major resistance is near the $3.40 level.

A convincing move and close above the $3.40 resistance zone could send the price toward the $3.850 level. Any more gains might open the doors for a new all-time high or even $4.00.

Recently, Ripple announced that it is bringing OUSG, tokenized U.S. Treasuries to the XRP Ledger in collaboration with Ondo Finance – a leading tokenized real-world asset (RWA) issuer.

Another Rejection? XRP Price Might See A Hit If…

On the downside, XRP price might struggle to surge above the $3.10 resistance and start another decline. Immediate support is near the $3.00 level. The first major support sits near the $2.85 level.

The main support could be near the triangle’s lower trend line or $2.650. A close below the triangle could spark bearish moves. In the stated case, the bears might aim for a close below the 50-day simple moving average (blue) at $2.50.

If they succeed, the price could take a hit. The next target for the bears could be $2.20. Any more losses might send the price toward the $2.00 handle.

Overall, XRP price is trading in a strong bullish zone above the $2.80 support. The price remains in an uptrend and might soon attempt more gains above the $3.20 level.