XRP’s price action is showing powerful bullish momentum after a decisive reversal from a critical buy zone, with technical analysis suggesting a potential 66% surge to the $4 mark. This bullish outlook comes as XRP continues its impressive market performance, building on recent technical strength.
Technical Analysis Points to Major XRP Rally
According to respected crypto analytics team ‘Setupsfx_’ on TradingView, XRP has completed a textbook reversal from a strategic buy zone between $0.85 and $1.00. This zone has historically served as a strong demand area, characterized by institutional order blocks and consistent price support.
Key Technical Indicators Supporting the Bullish Case
Multiple technical confirmations support XRP’s bullish outlook:
- Clean Change of Character (CHoCH) formation
- Higher highs establishing post-bottom
- Three-point trendline rejection
- Respected Imbalance zone (IMB)
- Strong Smart Money Concepts (SMC) alignment
Price Targets and Entry Points
With XRP currently consolidating above $2.4, analysts have identified several key price levels:
- Initial resistance: $3.00
- Secondary target: $3.70
- Ultimate target: $4.00
- Strategic entry point: $1.60
- Stop loss level: $1.40
Market Context and Volume Analysis
The broader crypto market context appears supportive of XRP’s potential rally, with institutional interest in XRP growing significantly. Trading volume patterns indicate accumulation at current levels, suggesting strong hands are positioning for the anticipated move.
Risk Factors to Consider
While the technical setup appears robust, traders should consider several risk factors:
- Overall market volatility
- Potential resistance at psychological levels
- Historical price action at key levels
- Broader crypto market correlation
Frequently Asked Questions
What is driving XRP’s current price movement?
Technical factors including strong buy zone reversal, institutional accumulation, and positive market structure are primary drivers.
When could XRP reach the $4 target?
Analysts suggest the move could unfold over the coming weeks, contingent on maintaining current momentum and market conditions.
What are the key support levels to watch?
Critical support exists at $2.40, with secondary support at $1.60 and major support at $1.40.