XRP Skyrockets 20%: Can It Break Through Key Resistance?

XRP has surged by 20% after hitting crucial support levels, signaling a potential bullish reversal. Investors are regaining confidence as the cryptocurrency reclaims multiple resistance levels, breaking weeks of bearish control. Currently trading near $2.38, XRP is showing strong buying momentum, suggesting a shift in market sentiment.

One of the most significant technical factors in play is the 100-day Exponential Moving Average (EMA), a key resistance level. If XRP breaks above this barrier, it could trigger an extended bullish run, potentially pushing prices toward $2.60, the upper boundary of its descending channel.

Volume dynamics also support this recovery, with increasing trading activity confirming that the uptrend is not just a temporary reaction but a real shift in market positioning. Additionally, the Relative Strength Index (RSI) is moving out of the oversold zone, indicating improved market health.

However, challenges remain. The broader cryptocurrency market remains volatile, and XRP needs sustained demand to maintain its upward trajectory. If it fails to break the 100 EMA, another pullback toward $2.20 is possible.

As market conditions evolve, all eyes are on XRP to see if it can sustain its rally and confirm a long-term breakout.