XRP Price Breaks Above $3.20: Can Bullish Momentum Sustain Amid ETF Buzz?
XRP, the native token of Ripple Labs, has surged past the $3.20 mark, marking a notable 26% weekly gain fueled by a combination of strong technical indicators and rising institutional interest. The recent breakout above key resistance levels has caught the attention of both retail investors and analysts, many of whom are now speculating whether XRP could sustain this bullish momentum and potentially retest the $3.50 or even $4.00 level in the near term.
The price surge comes amid improving sentiment in the broader crypto market. XRP’s rally began when it successfully broke above the $3.150 support zone and surpassed the 100-hourly Simple Moving Average, signaling a shift in momentum from neutral to bullish. According to technical charts, XRP/USD breached a long-standing bearish trend line near $3.240, which opened the path for further gains. The token’s current price is hovering around $3.22, with upside pressure still intact.
Momentum indicators support the bullish case. The hourly Moving Average Convergence Divergence (MACD) has moved into the positive zone, and the Relative Strength Index (RSI) has climbed above the 50 mark, pointing to increased buying activity. Notably, the price has also cleared the 23.6% Fibonacci retracement level from the previous high of $3.650 to the recent low of $2.959. These signals suggest that short-term buyers are entering the market with conviction.
From a resistance standpoint, XRP faces a few hurdles before achieving higher targets. The next major resistance levels lie between $3.30 and $3.3850. If bulls manage to overcome this range, the token could rally toward $3.50, and beyond that, the $3.650 level becomes a critical point to watch. On the downside, if XRP fails to maintain momentum above $3.30, it risks a pullback toward the $3.20 and $3.150 levels. A further decline could push the token back to the psychological support level of $3.00.
Beyond the charts, XRP’s surge is being driven by macro-level developments. Institutional buying has played a significant role in the current rally, with large wallet addresses—or “whales”—accumulating XRP over the past several weeks. Analysts believe that this trend reflects growing confidence in XRP’s long-term value, particularly after Ripple’s favorable outcome in its legal battle with the U.S. Securities and Exchange Commission (SEC). The resolution of this high-profile case has removed much of the regulatory uncertainty that previously weighed on XRP’s performance.
Speculation surrounding a possible XRP-related exchange-traded fund (ETF) has further added to bullish sentiment. Although no official reveal has been made, market participants believe that an ETF listing could significantly boost XRP’s visibility and attract more institutional capital. Analysts have floated the possibility of XRP reaching $4.00 if such a development materializes, though they caution that this depends heavily on volume confirmation and broader market stability.
Meanwhile, the overall crypto market is showing signs of a rebound. Major assets like Bitcoin and Ethereum have also posted gains, reflecting improving investor sentiment and a reduction in market volatility. XRP’s 26% weekly increase aligns with the broader trend, where several altcoins have rebounded between 30% to 70% over the last quarter. This environment of renewed optimism is creating fertile ground for XRP’s continued growth—provided it can maintain its upward trajectory.
Despite the bullish setup, investors are urged to remain cautious. Macroeconomic factors, such as the performance of the S&P 500 and shifting global monetary policies, still exert influence on crypto markets. Any negative developments in the traditional finance space could ripple into the digital asset sector, potentially halting XRP’s rally. Additionally, volume remains a critical component. Sustained price increases require consistent trading activity; otherwise, rallies may fizzle out as profit-taking sets in.
Looking ahead, the $3.00 support level remains crucial. As long as XRP stays above this threshold, bullish sentiment is likely to persist. A clean breakout above $3.3850 could set the stage for an extended rally, possibly testing $3.50 in the short term. However, failure to clear resistance could lead to sideways movement or a minor correction.
In conclusion, XRP’s breakout above $3.20 marks a significant milestone for the token, backed by strong technicals, whale accumulation, and speculation around institutional involvement. The coming days will be critical in determining whether the current rally is sustainable or if it’s due for a pause. Traders and long-term investors alike will be watching key levels and volume indicators closely to gauge the next move. For now, XRP stands as one of the top-performing cryptocurrencies of the week, reflecting a renewed wave of confidence in its potential.
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