XRP Price Breaks Channel, Surges to $3.66, Eyes $4 Zone
XRP price surged 34% to around $2.95 after breaking a long-term descending channel on the 12-day chart, signaling a potential trend reversal. The XRP price momentum picked up further as the token climbed above key resistances at $3.00, $3.22 and $3.35 to reach a high of $3.66 on Kraken’s hourly chart. It remains above the 100-hour SMA and a bullish trend line near $3.45. Technical indicators confirm strong bullish momentum: the hourly MACD line crossed above its signal line and the RSI sits above 50. Immediate support levels are $3.45, $3.35 and $3.22, while resistance at $3.62 and $3.66 must be cleared for a push toward $3.75, $3.80 and ultimately the $4.00 zone. Traders should monitor volume trends, RSI and MACD signals for signs of continuation or potential retracement.
Bullish
The breakout above a long-term descending channel and the climb past multiple resistance levels indicate strong bullish momentum for XRP price. Short-term, the technical indicators—MACD crossover and RSI above 50—suggest continuation of the uptrend, offering potential entry points on pullbacks to support levels at $3.45, $3.35 and $3.22. Long-term, sustained trading above the 100-hour SMA and key trend lines could attract further buying interest, driving XRP toward higher targets like $3.75, $3.80 and the psychological $4.00 mark. Traders are likely to view these developments as confirmation of a trend reversal, reinforcing positive sentiment and market stability in the XRP market.