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- XRP regains bullish momentum after reclaiming the $2.00 support and Election VWAP, setting a strong base for continued upside.
- Price eyes $2.25 resistance as volume profile shows thin liquidity up to $2.60, hinting at rapid gains if breakout holds.
- Short-term consolidation between $2.15 and $2.25 is likely, but structure remains bullish above $2.00 with rising volume support.
XRP has gained bullish momentum once again after reclaiming a vital support level at about $2.00, as observed by analyst Dom. The currency recently surged from a low of about $1.80 and currently stands at about $2.1645. This resulted from XRP breaking above the Election VWAP, which had been a firm resistance since March middle of the month. Thus, the breakout represented a vital shift in terms of sentiment, with sustained volume and bullish candlestick patterns. The Election VWAP is now respecting the $2.00 support, providing a strong foundation for additional potential upside.
Moreover, XRP reclaimed its three-month range and retested the range low as support. This level coincides with a high-volume node between $1.95 and $2.10. Hence, this consolidation zone remains crucial for maintaining the current uptrend. The 1M_rVWAP, positioned at $2.0781, briefly acted as resistance but was recently reclaimed. This bullish development confirms strength as XRP continues its push higher.
$2.25 Resistance in Focus Before Breakout Continuation
In late March, XRP saw multiple rejections near $2.25, forming strong resistance. However, the current rally brings price closer to retesting this level. Additionally, the volume profile between $2.25 and $2.60 reveals a low-participation zone. Hence, if bulls break above $2.25 with strong volume, XRP may rally swiftly toward the $2.60 target. The 3M_rVWAP sits at $2.5994, marking a key resistance and price objective.
Besides, the 1-month VWAP has recently flattened, indicating prior sideways trading. Yet, with bullish momentum returning, it may begin to slope upward again. Above $2.20, momentum remains intact. If XRP holds above $2.00, it keeps a constructive structure on the chart. Short-term consolidation could occur between $2.15 and $2.25 before a decisive move higher.
Key Levels to Watch and Risk Zones
The $2.00 support remains vital. It coincides with both the Election VWAP and historical demand. If XRP dips, a bounce here may spark another rally. On the downside, $1.9635 is another level to monitor. It marks a past consolidation zone and could offer intermediate support. However, a deeper drop may test $1.4864, which remains a longer-term safety net.
