- Ripple surged 8% to $2.6, sparking questions about sustained bullish momentum.
- XRP is trading in a sideways wedge, awaiting a breakout to define its direction.
- Key support at $2 could determine whether XRP rallies or faces a significant decline.
Ripple’s XRP recently surged 8%, reaching $2.6. This unexpected jump caught many by surprise. For weeks, the price had been relatively calm, moving sideways. Now, the big question is whether the bullish momentum will last or fade. The market stands at a critical point, and the next few days will show whether XRP can keep pushing forward.
Analyzing XRP’s Price Action
XRP’s price has been stuck in a sideways wedge for some time. This phase suggests indecision in the market. Buyers and sellers are at a standoff. XRP has been fluctuating between $2 and $3, with little change. Yesterday’s rise to $2.6 was sudden, signaling potential volatility. A clear breakout from this range is now crucial for defining Ripple’s next move.
Low volatility and market activity indicate a lack of investor interest. Broader factors, like political uncertainty, may be playing a role. With Ripple stuck in a tight price range, traders are waiting for a direction. A bullish breakout could spark a rally. But if the market turns bearish, significant losses could follow.
Key Support Levels and Ripple’s Future
On the 4-hour chart, XRP found support at $2, backed by the 0.5 Fibonacci level. This level has been strong in recent months, helping buyers maintain control. After finding support, Ripple made a slight upward move. However, the market has now returned to a low-volatility phase.
If buyers manage to hold the $2 support, a bullish move could be on the horizon. But if sellers push the price lower, the market might see a sharp drop. The coming days will reveal whether XRP’s recent surge marks the start of a strong rally or if the momentum will quickly fade.
