XRP Price Momentum: Break Above $3.12 Could Spark Rally
XRP price regained bullish momentum after testing support near $2.98 and breaking out of a rising channel at $3.07. Bulls pushed the token above the 100-hour SMA and cleared the key $3.12 resistance, the 61.8% Fibonacci retracement of the recent pullback. Continued buying pressure saw a break above the bearish trend line at $3.288 and propelled XRP price through $3.20 and $3.25, peaking at $3.35. Immediate resistance is now at $3.365, with targets at $3.40, $3.45 and $3.50 if support holds. On the downside, key support levels lie at $3.29, $3.20, $3.15, $3.08 and $2.98; a drop below $2.98 could trigger a deeper correction. Hourly MACD is bullish and RSI is above 50, indicating sustained upside potential for XRP price. Traders should watch these resistance and support zones for signs of a sustained rally or a fresh pullback.
Bullish
The combined technical signals point to a bullish outlook for XRP price in both the near and medium term. The break above the rising channel at $3.07 and the key $3.12 Fibonacci resistance, followed by surpassing the bearish trend line at $3.288 and the 100-hour SMA, underscores strong buyer demand. Momentum indicators, including a rising hourly MACD and RSI above 50, support the case for further gains. Immediate resistance levels at $3.365, $3.40 and beyond will be crucial for sustaining the rally. On the downside, robust support zones from $3.29 down to $2.98 offer buffers against sharp pullbacks. This setup suggests favorable conditions for short-term trades targeting higher highs and lays the groundwork for sustained upward pressure if key support holds over the longer term.