Breaking: XRP Price Surges 30% as Bulls Regain Control – Can XRP Hit $3 and Beyond?

XRP has faced a volatile market but recently stabilized within a defined range after enduring heavy selling pressure. On-chain data from Santiment shows major investors accumulating XRP, which is a historical indicator of potential price surges. XRP has also remained resilient despite broader market downturns, consistently reclaiming support levels after each price dip. Since last year, it has shown steady recovery, reinforcing its position as a potential leader in the next market-wide rally. However, for an extended uptrend, XRP must enter key price ranges and sustain momentum. 

XRP’s 30% Surge: The Beginning of a Major Rally?

After weeks of selling pressure increase in the XRP market, it has now reached a consolidated price. Throughout the recent weeks of volatility, XRP has set a price range between $1.90 and $3.40. XRP price surges have accumulated to a 30% price since Tuesday, as such now there is the possibility of a breakout. This will only be possible if XRP can continue its growth and break critical resistance levels, reaching supply ranges. 

On-chain data affirms a bullish outlook as whales have been accumulating more than 150 million XRP in the past days. This shows a growing confidence among big investors, which historically can lead to XRP price surges and rallies. With XRP now trading above critical supports, a break in the supply zone can create a long-term bullish price trend. As such, upcoming trading sessions will determine if XRP reaches a breakout or if it will continue its consolidation.

Can XRP Lead the Next Crypto Bull Run?

Despite reoccurring market-wide downturns, XRP has shown the best performance among altcoins. This is because after each fall this coin has reclaimed its essential support levels and has maintained a long-term price range. This extraordinary performance started at the end of last year and since then this altcoin has shown consistent recovery. Consequently, XRP can be a leader in the next market-wide uptrend and one of the first cryptos to reach price discovery.

XRP had shown resilience as it tested its $1.89 support last week and now is trading near $2.35. As such although the possibility of an uptrend remains as bulls now have control over the market. They have successfully kept XRP support levels and stopped its plunge under support levels. However, bulls have been unable to push this asset above supply levels to kickstart a rally.

XRP’s Next Move: Rally to New Highs or Drop to Lows?

To start a rally for a new all-time high XRP needs to break into the $2.60 range. Furthermore, it needs to keep a strong momentum at this level and reclaim the psychological resistance of $3. The possibility of a drop below the critical $1.90 still remains as the market shows consolidation. If XRP support levels get retested, a plunge under last year’s lows is also possible.

The possibility of a market-wide rally remains dependent on the macroeconomic factors and the global market’s strength. This also depends on the performance of similar risk assets like stocks. If these assets remain in a downtrend, the cycle of liquidation and bearish sentiment is more likely to continue. However, if global economics recover this could energize the market and propel cryptocurrencies like XRP to new heights.

Beyond Resistance: Global Trends Impact XRP’s Future

Traders should watch resistance levels since breaking above them could signal an uptrend, however, tracking broader market trends is also crucial. XRP recovery could attract investor confidence and fresh capital, positioning it to lead the next market-wide rally. Favorable global financial conditions would also boost cryptocurrencies, although, external factors, such as regulations and risk sentiment, continue influencing price changes. Investors must stay alert, adjusting strategies as needed while preparing for possible market swings.