XRP Could Soon Break Resistance and Surge to $2.60
Well-known crypto analyst Ali Martinez believes XRP may soon break through a key resistance level and go higher in the coming weeks. Although XRP only went up by 1.5% in the past week, it has faced several rejections near the $2.31 level.
XRP Struggles at $2.33 – Will It Break Through?
In a post on July 5, Martinez shared a 4-hour trading chart showing XRP has been moving in a narrow price range since early June, except for a brief drop on June 22–23.
The chart shows that $2.33 has been a strong resistance level where XRP keeps getting rejected. Meanwhile, the $2.13–$2.17 zone has provided strong support, keeping the price from falling lower. This tight trading range could lead to a breakout in either direction.
Martinez says if XRP breaks above $2.33, it could trigger strong buying and push the price to $2.60, a level last seen in May. If buying continues, XRP might even reach $2.70 or $2.84.
However, if XRP fails to break $2.33, it may stay stuck in its current range. Worse, if it falls below $2.13, it could drop further to support levels at $2.03 or $1.94, cancelling the current bullish trend.
Despite risks, Martinez leans bullish. He points to XRP’s bounce back from a low of $1.92 on June 23 and its quick recovery above $2.21, showing strong buying interest. A recent drop below $2.13 also ended with a quick bounce back to $2.32, supporting the bullish outlook.
XRP Market Update
Meanwhile, the XRP Ledger recently hit a record of 1.6 million transactions in 24 hours, showing high user activity. But analyst Ripple Van Winkle says trading volume also needs to grow for the price to rise significantly.
As of now, XRP is trading at $2.21, slightly down 0.21% in the last 24 hours. Its daily trading volume is $1.17 billion, down by over 43%. With a market cap of $131.04 billion, XRP remains the fourth-largest crypto, and a favorite for long-term investors.
