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XRP Price Forecast: Momentum Builds Above $3.20 Support
XRP price is making waves in the crypto market once again, outperforming both Bitcoin and Ethereum in the short term. The digital asset has seen a sharp rally of over 10%, climbing above the $3.20 resistance zone and currently trading around $3.30, signaling strong bullish momentum.
This fresh move began after XRP formed a solid base above the $2.85 support level. From there, it started gaining pace, breaking through several key resistance zones including $3.10 and $3.15. Most notably, bulls pushed the price above $3.20, which has now turned into a strong support area.
Breakout Confirmed as Technicals Align
In a strong technical shift, XRP managed to break above a long-standing bearish trend line that had resistance at $3.00 on the hourly chart of the XRP/USD pair, based on Kraken data. This breakout confirmed bullish sentiment and opened the door for further gains.
The MACD indicator on the hourly chart is now gaining pace in the bullish zone, while the RSI (Relative Strength Index) has climbed above the 50 level, further supporting the case for continued upward movement.
Additionally, the price is trading above the 100-hourly Simple Moving Average, suggesting that the trend is clearly in favor of the bulls in the short term.
Upside Targets: What Comes After $3.40?
As of now, XRP is attempting to test the next major resistance at $3.40. A successful break above this level could trigger a fresh rally toward the $3.42 mark. Beyond that, the bulls might aim for $3.50, with extended targets near $3.55 and $3.62.
If buying pressure remains strong, the next major hurdle could be found at $3.75, which may act as a psychological resistance and a key level to watch for further upside moves.
Support Levels to Watch: Are Dips Limited?
While the outlook remains bullish, traders are closely watching key support levels in case of a downside correction. The first immediate support lies near the $3.25 level. If XRP fails to hold above this zone, the next significant support is near $3.15.
This $3.15 level also aligns with the 50% Fibonacci retracement level of the recent upward move from the $2.90 swing low to the $3.38 high, making it a crucial area for bulls to defend.
A break below $3.15 could trigger more downside toward $3.10. If selling pressure continues, XRP might even revisit the $3.00 support zone, where stronger buying interest could emerge.
Momentum Building After Clear Reversal
The rally above $3.20 and the clean breakout of the bearish trend line point to a shift in market structure. Traders and analysts see this as a key reversal moment that could lay the groundwork for a longer-term bullish trend, especially if XRP can maintain its footing above $3.22.
The price has already formed a new local high at $3.38, and the fact that it remains stable above the 23.6% Fib retracement level of the recent upswing suggests that the asset is consolidating for another potential move higher.
With XRP outperforming major cryptocurrencies, market participants are increasingly optimistic about short-term gains. If the bulls manage to clear $3.40, a swift move toward $3.50 and beyond looks likely.
However, traders should monitor volume, volatility, and broader market sentiment, as these factors could influence whether XRP maintains its current momentum or faces a temporary cooldown.
As XRP price continues to attract attention, analysts are closely watching for confirmation of a sustained uptrend above the $3.40 resistance zone. If current momentum holds, this rally could mark a significant shift in market sentiment, potentially positioning XRP as one of the standout performers of the quarter.
