XRP is showing signs of renewed strength, hovering just under a crucial resistance level at $2.20.
Despite a slight daily pullback, the asset has posted more than 10% gain over the past week and is currently trading near $2.2.
Market analysts are watching closely, with some pointing to a potential breakout that could send XRP toward the $4 mark. The token’s recent price action follows a decisive move last year when it finally escaped a years-long range below $2, signaling a shift in long-term sentiment.
According to BA_Investments, the November 2024 breakout above $1.97 was a key technical moment, setting the stage for an extended uptrend. As long as XRP stays above that former ceiling—now acting as support—analysts remain bullish on further upside.
Adding to the bullish narrative, crypto trader Captain Faibik recently highlighted a tightening triangle pattern on the daily chart, often a signal that a breakout is near. He set his sights on a mid-term target of $4.60, citing building momentum and increasing accumulation.
With technicals strengthening and investor interest climbing, XRP could be setting the stage for a major move—provided it can clear resistance and sidestep regulatory roadblocks.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-inches-closer-to-breakout-zone-amid-rising-optimism/