Peter Smith
XRP finally did what bulls have been hoping for - it broke free. After months of grinding against resistance, XRP closed the week above a major technical barrier around $3.03-$3.08, officially ending its recent downtrend.
Technical Picture Gets Clearer
This isn't just any breakout either. The weekly close above previous highs, combined with what Cryptoinsightuk spotted as a developing RSI bullish cross, suggests we might be looking at the start of something bigger.
The momentum indicators are backing up what the price action is showing. XRP's RSI just crossed above its moving average and is sitting around 58.3-58.5 - historically a sweet spot that's led to strong moves higher. Volume is telling the same story, with consecutive green candles showing buyers are stepping in after months of sideways action.
Why XRP Is Moving Now
The timing makes sense when you look at the bigger picture. Bitcoin's dominance has been stalling out, which usually means money starts flowing into major altcoins like XRP. The regulatory mess that plagued XRP for years is largely behind us now, giving institutions more confidence to get involved. Plus, all that sideways movement in 2024 built up a solid technical foundation - like a spring getting compressed before it pops.
Key levels to watch:
- Immediate resistance: $3.65, then $4.20-$4.50
- Critical support: $2.72-$3.00 if things go south
If XRP can hold above $3.00 and keep building momentum, we could see it make a run at those higher resistance zones. But if it fails here and drops back below current levels, that support zone around $2.72-$3.00 becomes crucial for the bulls to defend.
The breakout above prior highs combined with the RSI bullish cross suggests XRP might be gearing up for its next major move higher. Whether it can sustain this momentum and set up for a bigger rally heading into late 2025 will depend on how well it handles these next few weeks of price action.
Peter Smith
