XRP price preps for ‘powerful move’ above $2.90 as sentiment metrics signal optimism
XRP’s market structure suggests that the altcoin is gearing up for a run to new all-time highs.
XRP (XRP) has followed the broader crypto market trend by selling off sharply, but the altcoin still holds the bulk of its 300% gains, which it accumulated in the last part of 2024. The altcoin managed to avoid a deeper correction between Jan. 7 and Jan. 9, as it continues to consolidate near its descending trendline, eyeing a potential breakout above the key resistance range between $2.50 and $2.60.
XRP 1-week chart. Source: Cointelegraph/TradingView
While majors like Bitcoin (BTC), Ether (ETH), and Solana (SOL) threaded to previous swing lows over the past 24 hours, XRP fought to hold a position above $2.30, which is the point of control (POC) for the altcoin since it breached $2 on Dec. 1. A position above POC implies that bulls remain in control of overall price action.
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Author: Biraajmaan Tamuly
