XRP extended its gains over the past 24 hours, moving toward a key short-term resistance area, but the broader trend still requires a decisive break above the $1.24-$1.28 zone to confirm a stronger recovery.
The token is attempting to turn recent support into a bullish breakout. XRP climbed more than 4% during the session, approaching $1.13 after spending time consolidating within a short-term symmetrical triangle pattern.
A successful breakout above this level could open the way toward $1.35. However, the larger daily chart remains cautious, with XRP still trading inside a descending channel that has limited upside moves for several months.
Market Update
- XRP traded around $1.13 on Monday, gaining approximately 4.6% in the previous 24 hours, according to CoinGecko data.
- The token moved between $1.08 and $1.14, with its market capitalization reaching nearly $70.85 billion and daily trading volume around $1.27 billion.
- Analyst Ali Martinez highlighted that XRP’s monthly chart is showing a TD Sequential buy signal, while the hourly chart indicates consolidation within a symmetrical triangle.
- Martinez suggested that a confirmed move above $1.13 could lead to a potential 20% rally toward the $1.35 level.
Recent Price Performance
- XRP started the session near $1.0925 and climbed to $1.1067 on CoinDesk Data’s 24-hour chart before continuing its move toward $1.13 on CoinGecko.
- The upward move followed several hours of range-bound trading between $1.09 and $1.11, after which buyers pushed prices higher during the morning.
- Trading volume increased alongside the breakout attempt, with CoinGecko recording about $1.27 billion in 24-hour volume.
- XRP remained above the $1.08-$1.10 support area, maintaining the short-term bullish structure.
Technical Analysis
- The $1.13 level is the immediate resistance point. A sustained move above it would confirm the symmetrical triangle breakout and put the $1.35 target into focus.
- On the hourly chart, XRP has formed a symmetrical triangle pattern, with price action narrowing between descending highs and rising lows before the latest move higher.
- The daily chart remains less optimistic, as XRP continues to trade within a downward channel. The 100-day and 200-day moving averages are still positioned above price and trending lower.
- The $1.24-$1.28 region remains the key resistance area because it aligns with the upper boundary of the descending channel and major moving averages.
- The strongest support remains between $1.02 and $1.06, where buyers have repeatedly defended the market in recent weeks.
Important Levels to Watch
- $1.13: The immediate breakout level. Holding above this area would reinforce the short-term bullish outlook.
- $1.14: The next nearby resistance zone following the latest 24-hour high.
- $1.24-$1.28: The critical resistance range that XRP must break before the larger trend can improve.
- $1.02-$1.06: The main support area. A drop below this zone could expose XRP to a move toward $0.88-$0.92.
For now, XRP remains in a short-term recovery phase, but a broader trend reversal will depend on whether buyers can push the token above the $1.24-$1.28 resistance zone.
