XRP rose more than 4% within 24 hours, approaching the critical $1.13 resistance level. A successful breakout above this mark could trigger a rally of approximately 20%, pushing the price toward $1.35.
Price Action and Key Levels
On Monday, XRP traded between $1.08 and $1.14, defending support around $1.10 and testing resistance at $1.13. The token's market capitalization reached about $70.85 billion, with a daily trading volume near $1.27 billion. XRP moved above its 20-day exponential moving average (EMA) of $1.105 but remained under its 50-day average near $1.145 and 100-day average around $1.237.
Technical analyst Ali Martinez spotted a symmetrical triangle pattern forming after a period of compressed price action. Per Martinez, surpassing $1.13 would confirm a bullish breakout, likely propelling XRP toward the $1.35 target. also a TD Sequential buy signal has emerged on the monthly chart, indicating potential upward momentum. However, the overall daily price remains confined within a descending channel that has capped rallies for several months. A clear break above this channel is necessary to validate a sustained trend reversal.
Technical Indicators and Market Dynamics
Technical indicators show tentative bullish control. The Directional Movement Index registers weak trend strength with an ADX value near 12.22. The positive directional indicator is slightly above the negative indicator, suggesting buyers hold a narrow short-term advantage. Nonetheless, stronger volume would be needed to confirm any trend shift.
Liquidations of short positions increased as XRP advanced toward $1.13, forcing bearish traders out of the market. Meanwhile, liquidations of long positions remained limited, further supporting demand for the token. If XRP fails to maintain support around $1.10, the price may revisit $1.06. A daily close above $1.145 could expose resistance barriers near $1.20 and $1.29.
This material is informational and not financial advice.
