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XRP (XRPUSD) is maintaining its position above the critical breakout level of $2.91, suggesting that the bulls currently hold the advantage. The cryptocurrency has gained 1.40%, reaching a price of $3.1595, as buyers look to push the price higher.
There is minor resistance at the downtrend line, but if the bulls manage to overcome this, the XRPUSDT pair could embark on the next leg of the uptrend. If this momentum continues, XRP could reach the first target of $4, with the potential to soar further to $4.84.
However, the optimistic view would be invalidated if XRP’s price turns down and falls below the 20-day exponential moving average (EMA) at $2.87. Such a move would signal that the bears are gaining control and could trigger a corrective phase. In this scenario, XRP might drop to the 50-day simple moving average (SMA) at $2.51, with further support near $2.20.
Trading Data (as of 12:31 PM, 24 January 2025 GMT-5):
- XRP (XRPUSD) Price: $3.1595 (+1.40%)
- Market Cap: $181.874 Billion
- 24-Hour Volume: $7.72 Billion
- Circulating Supply: 57.56 Billion XRP
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.