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XRP has cleared the red zone and climbed up to the $3.10 support in the last 24 hours. However, technical indicators suggest the rebound move is stalling. The asset’s Bollinger Bands reveal that XRP has the potential to hit higher levels.
XRP price holds above $3.10 support level
As per data, the upper Bollinger Band pegs XRP’s price at $3.37, while the middle band is at $3.10. The lower Bollinger Band shows the coin’s price at $2.84. The asset did not dip to the lower band and has successfully risen above the middle band.
However, it still has not surged to align with the Bollinger Band charts as anticipated. As of this writing, XRP is exchanging at $3.13, which reflects a 0.76% increase in the last 24 hours. In earlier trading sessions, the asset hit a peak of $3.16 before settling at the current price.
Despite trading above the $3.10 support, this position remains shaky as investors have momentarily pulled back. The trading volume has dropped by 31.97% to $6.6 billion within this time frame.
If XRP bulls can defend this $3.10 level, it might support the asset’s rebound journey in the market. Activities show that a large holder recently acquired 120 million XRP, a move that signals bullish confidence in the outlook of the coin.
Can XRP break $3.50 resistance and target $4?
As reported by U.Today, XRP’s bullish rally might not fade soon as the asset is staying above its key support zone. This development fuels hope that it could still push for a new all-time high (ATH) once the rebound move is confirmed.
The altcoin might be building momentum to break out above the $3.50 zone, where it has faced rejection several times. Many investors believe that if it successfully clears this level, it might go all the way to hit $4 if market conditions are right.
For now, market participants are monitoring developments across exchanges and how such moves could impact the price outlook.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team