Can XRP break $3 after 8% daily gain?

The price of Ripple has been steadily rising, approaching the upper limit of the sideways wedge pattern.

A break above this critical threshold could ignite bullish momentum, with buyers targeting the $3 resistance zone.

XRP analysis

By Shayan

The daily chart

RP recently recovered from the lower boundary of the wedge pattern at $2, demonstrating strong buyer activity. The subsequent rally has brought the asset close to the upper limit above $2.5, an important dynamic resistance level.

A break above this limit is expected to increase bullish momentum, which could drive the price towards the $3 resistance zone, a crucial psychological and technical level. The next few days will be critical as price action near $2.5 will dictate Ripple’s short-term trajectory. A successful breakout could set the stage for a sustained uptrend.

The 4 hour chart

The bullish structure of the XRP market is evident in the lower time frame, with the price forming higher highs and higher lows. Strong buying activity near the 0.5-0.618 Fibonacci retracement levels has fueled this move to the upside.

Despite the steady rally, Ripple remains stuck within the $2-$3 range, with a break needed for a new trend. The price is expected to rise towards the $3 threshold, a critical level to validate bullish continuation. However, the consolidation within this range is likely to persist without a break.

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