RP Breaks Above $2.91 With Bullish Momentum Building Toward $3.40

• With $3.40 as the next significant hurdle to keep an eye on, XRP’s breach over $2.91 indicates strong bullish momentum.
• Key support levels at $2.68 and $2.53 offer safety nets, reinforcing XRP’s upward trend amid rising investor confidence.
• Sustained volume near $3.40 could propel XRP to new highs, highlighting renewed market interest and robust technical backing.

XRP breaks above the $2.91 level the price surging with strong bullish momentum. This breakout, accompanied by rising trading volumes, highlights renewed investor interest and potential for further upward movement. Moreover, the 21 EMA aligns closely with XRP’s lower trendline, reinforcing dynamic support.

Key Support Levels Highlight XRP’s Safety Nets

XRP’s breakout above the symmetrical triangle is a strong bullish signal. However, crucial support levels at $2.68 and $2.53 provide additional confidence. These retracement zones are vital for maintaining the current trend’s strength. Besides, the $2.00 level remains a significant psychological threshold for traders. $1.63 serves as the ultimate downside threshold, signaling a critical juncture in case of bearish reversals.

Source: Egragcrypto

Additionally, the symmetrical triangle breakout concludes an extended consolidation phase, transitioning XRP into a trending phase. The equilibrium point near $2.91 confirms the balance before the breakout, establishing it as a key pivot zone. Traders should monitor this level closely for potential retests and further price action clarity.

Resistance Zones Pave the Path to Higher Highs

Resistance at $3.40 poses the next critical hurdle for XRP. Consequently, a successful close above this level would shift market sentiment further into bullish territory. Moreover, such a move could pave the way toward uncharted levels, depending on sustained trading volume and broader market conditions. The breakout’s confirmation has already resulted in higher highs and higher lows, reinforcing the upward trajectory.

XRP’s price action suggests a higher probability of sustained bullish movement. The consistent closing above the 21 EMA reflects a strong underlying trend. Furthermore, traders may capitalize on the well-defined support and resistance zones to make strategic decisions. Price rejections from higher levels could lead to retests of $2.68 or $2.53, which would likely confirm these zones as support.

XRP’s Momentum Gains Broader Market Attention

XRP’s strong price action has captured attention, signaling an optimistic outlook. Besides technical indicators, the growing volume near the breakout zone validates the bullish bias. Moreover, if XRP sustains its momentum and breaks $3.40, higher targets become achievable. Traders should monitor the $2.91 level and the 21 EMA closely for additional confirmation.