XRP Climbs 13.7% Following Rare Bullish Cross, Suggesting a Potential Upsurge.

XRP Sustains Bullish Momentum, Eyes $2.40 as Technical Indicators Suggest Further Gains

XRP continues to demonstrate impressive bullish momentum, marked by a series of higher lows and strong breakout volume, signaling that additional upside potential may be on the horizon.

The cryptocurrency’s price action has been particularly resilient, with buyers consistently stepping in on dips. Notably, on April 12th, XRP broke through the $2.07 resistance level, accompanied by a significant trading volume of 240 million. This surge has fueled growing optimism in the market, with some analysts projecting price targets between $10 and $20 for the near future.

The technical setup for XRP is becoming increasingly favorable. The cryptocurrency is currently trading within an ascending triangle pattern, which could pave the way for a move toward $2.40 if it manages to breach the $2.22 resistance level. According to CoinDesk Research’s technical analysis, the current price action on the XRP/BTC chart shows a bullish crossover pattern that has previously foreshadowed major price rallies, such as the 958% surge seen in 2017.

At the time of writing, XRP is hovering around the $2.00 mark, showing no signs of slowing down. As the broader market continues to recover, additional upward pressure could fuel more significant gains for XRP in the weeks ahead.

Key Technical Insights

• XRP has demonstrated notable strength, rising from $1.93 to $2.24, a 13.7% range over the analyzed period.
• The price action is characterized by a clear uptrend with consistently higher lows and higher highs, establishing solid support at $2.08.
• Trading volume spiked during significant breakouts, particularly on April 12th, when XRP breached the $2.07 resistance level with 240 million in volume.
• According to Fibonacci extensions, the next potential resistance levels for XRP are at $2.28 and $2.35.
• XRP’s current consolidation between $2.13 and $2.16 is forming a bullish flag pattern, hinting at potential continuation.
• Buyers have shown resilience, stepping in consistently at dips, signaling sustained bullish sentiment.
• In the past 100 minutes, XRP maintained its upward momentum, rising 0.77% from $2.143 to $2.160.
• A breakout at 10:42 saw XRP surge above $2.153 resistance, confirming bullish momentum with increased volume.
• The price action is forming an ascending channel with support at $2.148 and resistance at $2.160, reinforcing the bullish outlook.
• Volume spikes during upward price movements, particularly during the 11:07 and 11:31 surges, when volume exceeded 1.4 million and 2.2 million, respectively.
• XRP surged 13.7% from $1.93 to $2.24, with breakout points supported by strong trading volume.
• Technical analysis shows the formation of a bull flag pattern, with potential targets at $2.28 and $2.35 based on Fibonacci projections.
• EGRAG CRYPTO, a renowned crypto analyst, highlighted a rare bullish crossover between the 55-week EMA and 155-week MA, which historically precedes massive rallies, including the 958% gain seen in 2017.
• XRP outperformed the broader market, rising 13%, while the CoinDesk20 index saw an 8.3% gain.

XRP’s technical setup, backed by strong bullish momentum, has traders and analysts alike watching for further upside potential. With key resistance levels in sight, XRP may be gearing up for another significant rally.