XRP on Verge of U-Turn Price Move: 8% in 24 Hours
2025-01-20
Category: None

As it approaches the possibility of reversing its recent correction, XRP has shown incredible resilience over the last 24 hours, recording an 8% price recovery. As it recovered well from selling pressure earlier in the week, the asset is currently trading at about $3.18.
Following XRP's successful recovery from the $3 support level, which has been serving as a crucial area of buyer interest, the price has surged. A spike in trading volume, which suggests rekindled investor confidence in the asset's upward trajectory, lends additional support to the bullish reversal. XRPUSDT Chart by TradingView">
With a significant volume of $267.2 million, the market was clearly active. Technically speaking, XRP continues to hold above both its 50 and 100 EMAs, solidifying its strong position in a bullish trend. The asset also held above $2.65, its prior resistance-turned-support level, which may serve as a strong base for future price increases. With the RSI at 66 right now, there is more bullish momentum, but the overbought zone is still accessible. 
Looking ahead, $3.35 is where XRP will likely encounter its next significant resistance. If this level is broken, it may lead to a retest of the recent highs around $3.50. A move like that would validate the market's ongoing bullish trend and possibly draw in additional investors. A decline toward $3 or even $2.80, however, might be imminent if XRP is unable to sustain its upward trajectory. 
The ability of XRP to bounce back swiftly from corrections is a major selling point, and market sentiment is still positive. As long as it overcomes the current resistance levels, the asset's performance over the last day indicates that it is in a strong position for further growth. The recent 8% spike in XRP suggests that there is significant bullish momentum.
The asset's capacity to hold onto support and confront resistance levels will dictate whether this rally develops into a legitimate continuation of its upward trajectory. For the upcoming pivotal move, traders should closely monitor the $3.35 resistance level.