XRP Price Analysis: Is a Major Bullish Rally About to Begin?

• XRP shows a bullish daily close, but Bitcoin’s trend will heavily influence the next move.
• A breakout above $2.80 could trigger a strong rally toward the $3.65 resistance zone.
• Technicals show “Buy” signals with the growing market cap and a surge in trading volume.
  

XRP has shown signs of resilience as it closed slightly bullish, following a volatile week in the broader crypto market. The daily and weekly charts signal early strength, yet traders remain cautious as Bitcoin’s trend will likely guide XRP’s next move.

CRYPTOWZRD, a crypto analyst, noted that XRP’s current price action shows potential, but intraday volatility is lacking. The analyst plans to monitor the intraday chart closely in the coming days to find the next short-term opportunity. He further emphasized the importance of Bitcoin’s direction in shaping XRP’s performance.

Technical indicators show XRP forming a symmetrical triangle on the daily timeframe. A bullish breakout from this pattern could push prices higher. XRP is now testing resistance near the $2.40 mark. A breakout at $2.80 could trigger a significant rally, as marked on the technical charts shared by CRYPTOWZRD.

The major daily support remains firm at $2.05 and if the breakout materializes at $2.80, the next major target could be around $3.65, based on historical price levels. The intraday setup suggests possible trading opportunities, but market participants await stronger volatility. The analyst highlighted that a move above $2.57 may open the door for long positions. In contrast, a drop below $2.33 could present a short opportunity.

Market conditions remain sensitive to Bitcoin’s movement. If Bitcoin turns bullish, XRP could gain momentum and break its current range. However, if Bitcoin struggles, XRP might stay capped below key resistance levels. Recent trading sessions have shown that XRP is struggling to sustain moves above the $2.45 level. The price is still holding above $2.320 and the 100-hourly Simple Moving Average, offering some bullish bias in the short term.

Related: Fed’s Move and XRP Win Spark Bullish Surge Across Crypto

Adding to XRP’s momentum, the token is trading at $2.46, up 3.25% over the past 24 hours, as of press time. The market cap has climbed to $143.37 billion, reflecting the bullish sentiment, while trading volume surged by over 52% to $2.66 billion. Technical indicators show a “Buy” on the daily summary, with oscillators remaining neutral and moving averages signaling a “Strong Buy,” highlighting growing market optimism.

Meanwhile, traders are also watching broader market catalysts, including ETF speculation and regulatory updates. The XRP community is anticipating a potential upside following the end of SEC Vs. Ripple lawsuit.

For now, traders are staying patient, awaiting better conditions for a decisive trade. As XRP consolidates, attention remains on intraday volatility and Bitcoin’s influence to confirm the next move.

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