XRP’s Recovery Momentum Builds
XRP is showing some interesting movement around the $2.66 level after that pretty steep correction we saw earlier this month. I think what’s happening here is the asset is trying to find its footing again, and there’s definitely some renewed interest in that psychological $3 barrier. The price action suggests we might be seeing a shift from short-term weakness back toward something more positive.
Looking at the daily chart, XRP has actually made a pretty dramatic recovery from the $2.35 support level. It’s been forming these higher lows, which usually indicates fresh accumulation happening. The fact that it’s climbed back above the 200-day moving average is significant, and now it’s testing the 50-day EMA around $2.77. This level has historically been important for confirming trend reversals.
Key Resistance Levels to Watch
If XRP can manage to hold above this zone and secure a daily close above $2.80, I think the chances of reaching $3.00 to $3.10 become much more realistic. We’re seeing trading volume pick up slightly after weeks of cautious selling, which suggests institutional and large holders might be getting back in the game.
The Relative Strength Index sitting at 53 is interesting – it shows a balanced state between buying and selling pressure. This could actually be a good setup for a breakout attempt without hitting overbought conditions too quickly. But investors should definitely keep an eye on those resistance zones between $2.77 and $2.90, where XRP has faced rejection multiple times before.
Potential Scenarios Ahead
If XRP can’t break through this area, we might see a short-term pullback toward $2.55 to $2.45. The overall bullish structure would need to hold through that. But if it does manage to break above $2.90, things could get interesting quickly – short liquidations and renewed speculative demand could drive a pretty decisive move toward $3.00.
What’s worth noting is that XRP often acts as a sentiment driver for other large-cap assets, so a successful breakout here could signal a broader recovery in the altcoin market. We’re at a crucial stage in this recovery process. A confirmed breakout above $2.80 could definitely open the path to $3 and beyond, but if that doesn’t happen, we might see another consolidation period before the next upward move.
The market structure does seem to be shifting back toward buyers, which is encouraging. It’s one of those moments where you can feel the momentum changing, but it’s still early enough that anything could happen. The next few days should give us a clearer picture of where this is headed.
