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XRP has achieved a significant technical breakout by surpassing the 50-day exponential moving average (EMA), which had capped its gains for weeks. As of March 24, XRP is trading around $2.48, marking a 1.69% daily increase. This bullish move above the 50 EMA—currently near $2.40—signals renewed buyer interest after an extended period of consolidation.
The breach is particularly notable because it occurs within a descending channel where XRP has been coiling. The price is now testing the upper boundary of this pattern, with a potential breakout paving the way for a move toward the $2.80 to $3.00 resistance zone. A confirmed close above this range could validate bullish momentum and shift the broader market structure.
On-chain indicators support the rally’s strength. The Relative Strength Index (RSI) has climbed above 53, showing growing upward momentum. Meanwhile, trading volume, though not surging, shows signs of steady accumulation—a positive sign for bulls. Additionally, XRP is nearing the 100 EMA, which may serve as the next resistance level.
If XRP holds above the 50 EMA and successfully tests the descending trendline, it could mark the beginning of a longer-term uptrend. The 200 EMA, sitting around $1.92, continues to act as a crucial macro support level, maintaining the overall bullish structure.
As market sentiment shifts and technical indicators align, XRP appears to be gaining traction, offering cautious optimism for investors looking for sustained gains. Continued strength above key EMAs and a confirmed breakout could propel XRP closer to reclaiming higher levels, reigniting long-term bullish sentiment.
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