Ripple’s Technical Strength Signals Potential Upside
Ripple (XRP) is demonstrating robust technical strength, staying above crucial moving averages and support levels.A breakout above $2.42 coudl signal a important market shift, if backed by higher trading volume.
Despite uncertain market conditions, XRP has shown resilience. It’s currently trading above major support and maintaining teh 200-day moving average, a key indicator of trend continuation. The presence of confluence with high-value support zones suggests the asset may be poised for another leg upward, provided volume confirms the move. Key technical points Major Support at $2.09: In confluence with the 200-day moving average and the value area low. Next resistance at $2.42: Point of Control level acting as resistance within the current volume range. Low Volume Environment: Suggests accumulation phase; breakout requires increased volume for confirmation. XRPUSDT (1D) Chart, Source: TradingView XRP has recently respected the $2.09 support level, a region of significance due to its alignment with both the value area low and the 200-day moving average. Holding above this level signals continued bullish structure,especially as price trends upward. Historically, the 200 MA serves as reliable dynamic support, and provided that XRP stays above it, the probability of further upside remains strong. the next logical price target lies at the $2.42 region, which marks the Point of Control within the current high time frame volume profile. A triumphant move toward this level would represent a full volume profile rotation, consistent with market auction theory. This theory suggests that once price bounces from the value area low and gains strength, a move toward the value area high and POC is likely, provided ther’s volume expansion to support it. One key factor to monitor is the current lack of trading volume.While this may seem bearish at first glance, it more likely signals a phase of quiet accumulation at support. A strong rally will need to be supported by a notable influx of volume to confirm bullish conviction and signal the transition from accumulation to expansion. Until the 200-day MA or the $2.09 support is breached,the bullish structure remains intact. Traders should continue to monitor the strength of the trend and be alert for any surge in volume that could initiate the next move higher. What to expect in the coming price action If XRP holds above $2.09 and volume begins to increase, a rotation toward the $2.42 resistance becomes highly probable. Breaching this resistance would mark the beginning of a potential trend acceleration. rnrn
