XRP Breakout Sets $4.50 Target as 1.2B Tokens Surge on Exchanges

Key Insights:

• XRP breaks key resistance at $3.00, targeting $3.08 and $3.27 for continued upward movement.
• XRP reserves surge by 1.2B tokens on exchanges, with Binance contributing 610M in a day.
• Market momentum builds with strong support at $3.00, aiming for a $4.50 price target.

XRP has recently broken out from a lengthy period of consolidation, sparking expectations that it may continue to rise, with a target of $4.50 in sight. The breakout coincides with a surge of 1.2 billion XRP tokens moving onto exchanges, led by a significant influx into Binance.

XRP Shows Momentum After Consolidation

XRP has been battling resistance around the $3.00 level, with slight rejections before attempting a strong upward move. Analysts are watching the $3.00 zone, pointing out that it is crucial for determining whether XRP will continue its rally. 

If XRP can break past this resistance, the following targets would be $3.08 and $3.27, two key levels for the continuation of the uptrend. The Relative Strength Index (RSI) has been building a steady bullish slope, a clear sign of increasing market strength.

According to CasiTrades, XRP’s market structure looks solid, and the support at $3.00 could fuel further upward momentum. If the price clears $3.25, XRP may test previous highs, possibly leading to a retest of the $3.66 mark.

XRP Price Targets and Key Levels to Watch

Key Fibonacci levels are being closely monitored as XRP moves forward with its breakout. The 0.382 support level at $3.00 is critical for maintaining the upward trend. If XRP breaks through $3.25, it could set up a retest of the previous high at $3.66, with the ultimate target reaching $4.50.

The XRP market remains strong, with the breakout pattern intact and increasing momentum. If the price holds above the critical $3.00 level, the next resistance zones are expected to come in around $3.50 and $3.70. Traders are keeping a close watch as XRP continues to press against these key levels.

XRP Price and Surge in XRP Reserves on Exchanges

As of press time, XRP is trading $3.02 USD, with a 24-hour trading volume of $4.52. XRP has increased by 1.71% in the last 24 hours.

Meanwhile, XRP reserves on exchanges have risen sharply, with 1.2 billion tokens added in just one day. Binance led the surge, with 610 million XRP tokens inflowing. This sudden spike in exchange reserves is a sign of increasing trading activity, which could drive future price movements.

Based on PushpendraTech, the significant surge in XRP reserves suggests heightened interest from large traders. The increase in reserves typically signals higher market activity, which often leads to greater volatility in the asset’s price.