According to market analysts, the observed upward trend in XRP’s price is supported by technical indicators and significant resistance levels. Reports indicate that the token has surpassed a crucial resistance level on the four-hour timeframe.
Technical Analysis Findings
The relevant technical analysis results show that XRP is signaling increased buying pressure after breaking through the four-hour resistance level. Dark Defender emphasized that if XRP surpasses the critical resistance at $3.39, the upward trend could continue.
Dark Defender: “XRP price has achieved a four-hour resistance breakout; buying pressure has increased. When critical resistance is surpassed, the price may enter a rapid upward trend.”
The analyses suggest that the support level for the Ripple 
$2 token stands at $2.22. According to evaluations by CasiTrades, XRP is trading within the ranges of $2.57 and $2.70. Fibonacci retracement levels are also indicated at $2.48 and $2.42, suggesting that if the price remains above these thresholds, upward movements may be anticipated.
Market Expectations
Market experts signal that if XRP maintains its support levels, it could progress towards $3.80, and subsequently to $5.85. The inclusion of the Ripple token in strategic reserves and increasing demand may impact the overall market dynamics. CryptoQuant CEO Ki Young Ju noted that the rise in stablecoin demand could be a significant factor in the upcoming period.
CryptoQuant CEO Ki Young Ju: “An increase in stablecoin demand has been observed; this could be an important catalyst for the upcoming period.”
Current data shows that the XRP price is at $2.61. Despite a nearly 7% increase over the last 24 hours and a decrease in trading volume, the market capitalization continues to rise.
Analyses suggest that the technical developments in XRP may support the potential price increase, while investors are advised to closely monitor the specified support and resistance levels. Considering market dynamics and trading volume could provide important indicators for future price movements.
