Ripple’s Price Bounces Back
Ripple’s price has bounced strongly from a critical support zone at $2.64, reinforced by key technical confluences. The move positions price action for a continuation toward its all-time high and beyond.
Technical Analysis
Ripple (XRP) has reaffirmed its bullish market structure after finding support at $2.64, where multiple technical confluences align. This rebound underscores the strength of ongoing momentum, setting the stage for a rally toward the next Fibonacci extension target at $4.80.
Key Technical Points
The critical support at $2.64 aligns with the 0.618 Fibonacci retracement, lower Bollinger Band, and value area high. The bounce confirms another higher low in XRP’s established bullish trend, with the upside target being the Fibonacci extension at $4.80.
The $2.64 region has emerged as a crucial structural base for XRP. Its combination of Fibonacci retracement, Bollinger Band support, and value area high creates one of the strongest confluence zones seen in recent months.
Market Structure
From a structural perspective, XRP continues to trade within a strong uptrend, marked by consecutive higher highs and higher lows. The most recent bounce adds yet another higher low to this framework, signaling that the bullish trend remains intact despite recent corrective pressures.
Upside Potential
The immediate upside target is the all-time high region, with Fibonacci extension projections placing the next milestone at $4.80. Such a move would mark a significant breakout, transitioning XRP into uncharted price territory. However, volume remains the decisive factor.
Volume and Momentum
Early signs of bullish inflows are present on the volume profile, but these need to be sustained to confirm momentum and support an impulsive rally higher. As long as $2.64 holds, XRP remains positioned for continuation toward its all-time high and the $4.80 extension target.
Conclusion
Sustained bullish volume will be critical in driving the next expansion phase. With Ripple expanding distribution of its Ripple USD stablecoin to institutional clients in Africa, the company is reinforcing its broader global growth drive, potentially further supporting the price of XRP.