XRP Rebounds above $2.30 to Resume Its Bullish Ascent

XRP/USD Long-term Trend: Bullish

The price of XRP rebounds and overcomes the 21-day SMA to resume its bullish ascent. On the plus side, XRP is likely to rise and return to its earlier peak of $2.91. However, XRP will continue to rise if the upward momentum overcomes the $3.00 barrier level. The value of the cryptocurrency will increase to $4.37. Positively, if XRP drops from the $3.00 resistance zone, it will need to perform a range-bound move.

The altcoin will move below the most recent high and above the 21-day SMA support. If the price drops below the 21-day SMA support, the altcoin will revert to its prior range. As of this writing, the value of XRP is $2.46.

Technical indicators

Key Resistance Levels: $2.50, $3.00, $3.50
Key Support Levels: $1.50, $1.00, $0.50 

Daily Chart Indicators Reading: 

Following the recent price recovery, the price bars are once again above the moving average lines. The bullish trend in XRP has started to resume. The $3.00 resistance level will be faced by the advancing trend. On January 2, 2025, there is a bullish crossover of the moving average lines on the 4-hour chart. It suggests that the altcoin will see an upward trend.

XRP/USD Medium-term Trend: Ranging

XRP has been trading above the $2.00 support but below the resistance at $2.70 on the 4-hour chart. The altcoin is heading upward toward the upper price range as it keeps moving sideways. The digital asset will start to move once it breaks above the resistance level at $2.70. However, if XRP declines from the most recent high, the range bound will start.

4-hour Chart Indicators Reading

The price bars on the 4-hour chart are above the moving average lines following the recent recovery. The bullish crossover of the moving average lines, where the 21-day SMA is above the 50-day SMA, suggests that XRP is likely to rise.

General Outlook for Ripple (XRP) 

On the daily chart, XRP breaks above the 21-day SMA to resume its bullish ascent. It is anticipated that the cryptocurrency asset will increase while above the 21-day SMA support. The upward trend, though, will encounter the $3.00 barrier. The cryptocurrency signal is positive as long as the 21-day SMA support holds.


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