Ripple (XRP) Price Targets: Will $3.50 Mark the Next Big Milestone?
- XRP breaks out of consolidation, surging past $3.00; experts monitor key resistance levels to predict its next move.
- After 1,170 days of stagnation, tokens explosive growth past $3.30 has traders wondering if history will repeat itself.
- XRP faces a crucial test at $3.22; breaking through could push the price to $3.50, while a fall below $3.10 signals potential declines.
Ripple (XRP) emitted from its lengthy price consolidation period when it jumped past $3.00. Experts in the cryptocurrency industry watch XRPs price development as the token nears essential obstacle points. Ripple token shows developmental potential for additional gains from breaking through established price barriers.
XRP Breaks Key Resistance
According to Javon Markks in a recent X post, XRP spent 1,170 days between late 2013 and early 2017 without making significant price movements. After staying stagnant for more than 1,170 days token experienced explosive growth to nearly reach $3.30. As coin has taken over two years to enter this next phase of consolidation people want to know if it will explode as it did before.
XRP built strength against sellers when it hit $3.00. After breaking through $3.05 resistance the coin advanced to surpass $3.12. As XRP stays above $3.12 it shows potential for further upward momentum due to support based on the 100-hourly Simple Moving Average.
The recent movements demonstrate that token crossed through its essential 50% Fibonacci retracement mark. During its decline from $3.36 to $3.00 coin faced strong support zones at this price level. At $3.22 token faces its next significant test along the 61.8% Fibonacci retracement after hitting this point many market experts believe they can predict if the upswing continues.
Source: TradingView
XRPs Price Targets to Watch
Breakthrough at $3.22 resistance can push XRP prices up. The following resistance points stand at $3.35 followed by $3.45. The price of coin may climb further to $3.50 or $3.55 when it crosses past stability markers.
The price of cryptocurrency likely will keep dropping when it falls beneath $3.10. The next significant support level is at $3.00. The cryptocurrency may sink toward $2.88 and $2.75 if token drops beneath its current point of $3.10.
Throughout the market everyone is looking these price targets to understand where Ripple coin will travel next. The coming days will show if Ripple coin can stay on its current price increase path or need to reverse direction. As of press time, token is trading at $3.21, showing a 3.38% increase over the past day.
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Text source: TronWeekly
