XRP has found itself back in focus as its confluence support presents optimistic trends, hinting at a potential upward trajectory. Crypto analyst, Alchemist Trader, suggests that XRP could be on its way to hitting $3 soon.
XRP price targets $3 resistance
According to a recent TradingView report, Alchemist Trader believes XRP is poised to meet significant resistance at $3. He anticipates a rise to around $2.80 as a logical next step, with previous highs near $3 being key obstacles, compared to the bearish order block midpoint in the channel.
Analysts have observed that XRP is currently navigating a crucial integration phase within a long-term uptrend. A technical analysis breakdown revealed that the price is retesting the lower boundary of this rising channel, which has held up “perfectly.”
This level aligns with a 0.618 retracement from earlier impulses, building a strong demand zone. The analysis also touched on moving averages and volume structures, indicating that XRP is trending above the 200-day moving average and has exhibited signs of buyer control.
Moreover, the recent low channel bounce has attracted above-average daily volumes, hinting at institutional accumulation at this point. An overnight swing saw XRP maintaining a higher lower compared to the monthly value area low, providing added support and trapping some short-sellers. After breaking above the previous swing high, XRP confirmed a bullish shift in market structure.
Building momentum for Altcoin
Crypto analyst Castrades noted that momentum seems to be gathering as XRP approaches key Fibonacci levels. While the market has been relatively calm, she observed that XRP is in one of the most critical support tests seen recently.
Current prices are nearing a significant support zone between $2.078 and $2.00, following a steady pullback from a recent local high of around $2.36. This area historically served as a pivot, and a rebound could potentially set off a positive trend.
On a shorter time frame, Castrades pointed out that the Relative Strength Index (RSI) indicates signs of selling fatigue, with price movements starting to compress. This suggests a larger movement may be on the horizon, and analysts are optimistic that tokens could push through $2.25, $2.68, and perhaps even beyond.
As of now, XRP is trading at approximately $2.13, reflecting a 1% increase over the past 24 hours.
