XRP Surges Past $2.60, Eyes $2.83 Breakout as Bulls Gain Momentum

XRP has surged above the crucial $2.60 mark, signaling a potential shift in market sentiment.

Currently trading around $2.65, XRP has shown resilience after its sharp correction, reclaiming key support levels. The breakout above $2.60 is significant, with analysts like CasiTrades suggesting this move invalidates the need for further downside, hinting at a potential bottom.

The focus now shifts to $2.76, a critical resistance aligning with the 50-EMA. A decisive break above this level could open the door for a retest of $2.83. Egrag Crypto highlights $2.83 as the next major barrier, with a close above this Fibonacci level potentially propelling XRP toward $3.15 and $3.36.

XRP’s ability to reclaim $2.60 after recent volatility demonstrates renewed investor confidence. The price action suggests a bullish reversal pattern forming, with higher lows indicating strong buying pressure. If XRP maintains momentum, it could challenge key resistance levels, paving the way for a broader rally.

Whales Accumulate as XRP Rebounds

Despite recent volatility, large investors are accumulating XRP, betting on a bullish reversal. Notably, “The 7 Siblings,” a prominent whale group, increased their holdings during the dip, indicating strong confidence in XRP’s long-term potential. This whale accumulation often precedes significant price movements, as their large-scale purchases signal underlying market strength.

Trading volumes have also surged, reflecting renewed interest from both retail and institutional investors. In the past 24 hours, XRP’s trading volume spiked by over 150%, suggesting heightened activity and increasing liquidity. This surge supports the bullish case, with strong demand potentially driving prices higher in the near term.

Market sentiment remains cautiously optimistic. While the broader crypto market has faced headwinds, XRP’s performance stands out, fueled by both technical breakouts and strategic whale activity. This accumulation trend indicates that key market players anticipate further upside.

Is an $18 XRP Still Possible?

While ambitious, some analysts maintain that XRP could hit $18 in the long term. Dark Defender projects that XRP’s current wave structure could fuel this rally, with intermediate targets around $5.85. According to his Elliott Wave analysis, XRP is in the fourth wave of its cycle, with the fifth wave potentially pushing the price toward new all-time highs.

Historically, XRP has shown the ability to deliver explosive moves following consolidation phases. The current setup mirrors past patterns, where strong rebounds led to extended bullish runs. Although reaching $18 would require sustained bullish momentum and favorable market conditions, the foundation for such a move is being laid with each technical breakout.

Key Levels to Watch:

• Support Levels: $2.47, $2.20, $1.97

• Resistance Levels: $2.76, $2.83, $3.15, $3.36

• Bullish Trigger: Sustained move above $2.76 and $2.83

The next few sessions will be critical in determining if XRP can maintain its momentum. A successful breakout above $2.83 could trigger a new bullish phase, attracting more buyers and driving prices toward $3.15 and beyond. Conversely, failure to hold above $2.60 could invite renewed selling pressure. For now, the bulls appear to have the upper hand, with key technical levels guiding XRP’s next move.