XRP has been showing some serious strength lately. Even during a recent dip, it held above the $2 support level, a strong sign that buyers are in control.
A Bullish Channel Forms
The price has been consolidating within an upward-trending channel. This, combined with the price holding the 0.618 Fibonacci level (a key support area), is very bullish. Historically, this Fibonacci level has acted as a springboard for XRP price increases.
The Path to $2.9
To continue its upward trajectory, XRP needs to break through the $2.4 resistance level. As long as it stays above the $2.18-$2.22 support zone (which aligns with important Fibonacci levels), a continued price rise is likely.
How High Could XRP Go?
A successful breakout could easily lead to a 10% jump, resuming the uptrend. Looking further ahead, based on the channel’s structure, a move to $2.92 is possible – a gain of over 20%! This would be a significant milestone, paving the way for potential new all-time highs.
Important Note: The analyst emphasizes the importance of watching trading volume to confirm the bounce. The bullish outlook remains valid as long as XRP stays above key support levels./p>
