Will XRP Price Break Out of Its 6-Month Range and Surge to $4?
The post Will XRP Price Break Out of Its 6-Month Range and Surge to $4? appeared on BitcoinEthereumNews.com. Key Insights: XRP price has been rangebound between $2 and $3 since December 2024. Technical indicators suggest XRP price could be preparing for a bullish breakout. Breaking above the $2.4-$2.47 resistance zone could push Ripple’s coin to $4. XRP price has been narrowly range-bound over the past six months, sparking discussions in the market. This has led some analysts to predict it may soon break out as key technical and network factors show a bullish trend. XRP Price Trapped in a Multi-Month Range Since December 2024, XRP price has traded between $2 and $3. This was after a major surge that brought its value from $0.50 to $2.90. Notably, that rally happened soon after the U.S. presidential election, as investor sentiment on crypto changed a lot. Since then, the top altcoin has struggled to make a major move over the top resistance of its recent range. On December 3, the token jumped to $2.90 and then reversed, leading to its prolonged period of sideways movement. Consequently, multiple efforts to move beyond $3 have not been successful, including a brief rise to $3.30 in January 2025. However, attempts by the altcoin to fall below $2 have repeatedly failed due to buying pressure, even when they dropped to $1.60 in April. XRP Price: Technical Indicators Point to Bullish Momentum Meanwhile, technical analysis on the 12-hour chart indicated that XRP price could be getting ready for a rise. Recently, analyst Poseidon noted that three important signals are emerging. The first is an unsuccessful attempt for the price to move below the consolidation level. In addition, the second sign is when the price moves above the 200-period Exponential Moving Average, a popular trend indicator for medium-term analysis. The third was the appearance of a new higher high at $2.36 on May 26. XRP Price…
The post Will XRP Price Break Out of Its 6-Month Range and Surge to $4? appeared on BitcoinEthereumNews.com.
Key Insights: XRP price has been rangebound between $2 and $3 since December 2024. Technical indicators suggest XRP price could be preparing for a bullish breakout. Breaking above the $2.4-$2.47 resistance zone could push Ripple’s coin to $4. XRP price has been narrowly range-bound over the past six months, sparking discussions in the market. This has led some analysts to predict it may soon break out as key technical and network factors show a bullish trend. XRP Price Trapped in a Multi-Month Range Since December 2024, XRP price has traded between $2 and $3. This was after a major surge that brought its value from $0.50 to $2.90. Notably, that rally happened soon after the U.S. presidential election, as investor sentiment on crypto changed a lot. Since then, the top altcoin has struggled to make a major move over the top resistance of its recent range. On December 3, the token jumped to $2.90 and then reversed, leading to its prolonged period of sideways movement. Consequently, multiple efforts to move beyond $3 have not been successful, including a brief rise to $3.30 in January 2025. However, attempts by the altcoin to fall below $2 have repeatedly failed due to buying pressure, even when they dropped to $1.60 in April. XRP Price: Technical Indicators Point to Bullish Momentum Meanwhile, technical analysis on the 12-hour chart indicated that XRP price could be getting ready for a rise. Recently, analyst Poseidon noted that three important signals are emerging. The first is an unsuccessful attempt for the price to move below the consolidation level. In addition, the second sign is when the price moves above the 200-period Exponential Moving Average, a popular trend indicator for medium-term analysis. The third was the appearance of a new higher high at $2.36 on May 26. XRP Price…
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