Key takeaways
- Ripple’s XRP is up nearly 8% in the last 24 hours and now trades above $2.18.
- The coin could rally towards $2.33 after breaking past the $2.15 resistance level.
XRP bounces back on strong market conditions
XRP, the native coin of the Ripple ecosystem, is one of the best performers among the top 10 cryptocurrencies by market cap. It is up nearly 8% in the last 24 hours and is currently approaching the $2.20 mark.
The rally comes after President Trump announced a ceasefire between Israel and Iran on Monday. Analysts are optimistic that XRP could surge to new highs after overcoming the $2.15 resistance level in the near term.
XRP eyes $2.33 amid strong fundamentals
XRP is performing excellently thanks to strong fundamentals and technicals. The rally to $2.19 a few hours ago came with a $217 million volume, nearly 3x the average, establishing $2.06 as strong resistance.
The XRP/USD 4-hour chart is turning bullish thanks to this ongoing rally. The blue and red MACD lines are crossing into the positive zone, indicating that buyers are currently in control of the market.
A relative strength index (RSI) of 62 also shows strong buying pressure. The strong technicals could see XRP push towards the next resistance level at $2.33 over the next few hours.
If the bullish trend continues, XRP could be heading towards the 4-hour internal liquidity at $3.0064. An extended rally would enable it to touch the $3.2 level for the first time since January 2025. However, much of the rally would depend on the ongoing events in the Middle East.
If the ceasefire agreement between the two nations holds, then XRP and other major cryptocurrencies could rally higher. However, if the events reverse, XRP could face further corrections and could drop below the $2 mark once again.
