XRP Surges Toward New Heights with Strategic Market Moves

XRP has shown a remarkable recovery, trading just below the $3 mark after recent pullbacks. Despite the persistent bearish divergence seen on the weekly chart since July, when the price was around $3.40, there are signs of stabilization. The robust demand zone between $2.70 and $2.80 remains intact, with the price currently positioned at $2.97, a 3.83% increase in the last 24 hours. This suggests that the upward movement might continue if crucial thresholds are surpassed.

Support and Resistance Map for XRP

The price chart highlights the $2.70–$2.80 range as a primary defense line against seller pressure, often preventing deeper losses as buyers step in during each test. While the bearish trend on the weekly timeframe has put pressure on the price for months, XRP holding above support levels indicates a gradual strengthening as lower trends rise. The short-term bullish scenario remains valid as long as order flow doesn’t dip below this zone.

The first resistance appears in the $2.93–$2.94 band, followed by the psychological $3 mark and a stronger selling barrier between $3.10 and $3.15. Confirmed movements above $3.15 using hourly or four-hour candlestick closures could trigger a shift towards the $3.30–$3.35 region. The 3.30–3.35 dollar peak is less a waypoint and more an interim goal, with sustained trend acceleration unlikely without breaking this level.

Bitcoin’s Influence and Potential Scenarios for XRP

XRP’s chart dynamics are significantly influenced by Bitcoin’s trajectory, the cryptocurrency market’s leader. If Bitcoin consolidates above $118,000 and confirms its strength, it could boost overall risk appetite and enhance XRP’s chances of challenging upper resistance levels. However, should Bitcoin’s market dominance increase gradually, capital flow might favor the largest cryptocurrency, potentially leaving XRP with a relatively weaker performance. Generally, analysts agree that a clear directional signal from Bitcoin will primarily define altcoin trends.

In the short term, maintaining support in the $2.70–$2.80 range and breaking the $3 resistance are central to optimistic scenarios. A confirmed move above $3.15 could open the path towards the $3.30 band. Sustained dips below the support point might deepen corrections. Therefore, risk management strategies should employ a gradual approach and closely monitor confirmed breakouts. As Bitcoin continues to amass strength, there remains the potential for XRP to maintain its recovery momentum, potentially reaching new peaks as the fourth quarter progresses.

The post XRP Surges Toward New Heights with Strategic Market Moves appeared first on COINTURK NEWS.