XRP's Bullish Momentum: Price Rebounds 7% From $2.00 Support

XRP is currently trading at $2.1329, demonstrating bullish momentum after rebounding from the $2.00 support level. The chart structure indicates growing buying pressure, with price action forming higher lows and maintaining positions above key technical levels. The $2.00 zone, marked by a blue support area, has shown resilience, rejecting multiple downside attempts. A red ascending trendline reinforces this level, creating an ascending triangle pattern with horizontal resistance at $2.20. This pattern typically favors an upward breakout if sustained buying pressure continues.

The 50-period DEMA (Double Exponential Moving Average) has turned upward, supporting the bullish bias. Meanwhile, the 200-period EMA sits near $2.30, acting as a long-term resistance level. A golden cross—where the 50 DEMA moves above the 200 EMA—could further confirm a trend shift if the price breaks higher. XRP faces two major resistance levels: $2.2006, which is an immediate barrier within the triangle, and $2.3713, which converges with the 200 EMA and a descending trendline, making it a key breakout target.

Price action has remained above the 50 DEMA, reinforcing short-term bullish sentiment. However, a low-volume breakout could indicate weak buying conviction, increasing the risk of rejection. If XRP breaks and holds above $2.20 with strong volume, it could rally toward $2.37. This move would validate the ascending triangle, signaling further upside potential. Conversely, failure to clear $2.20 may lead to a retest of $2.00. A decisive break below this level would invalidate the bullish setup, exposing $1.95 as the next support.

XRP’s price action favors a breakout, with strong support and increasing momentum. A confirmed move above $2.20 could trigger a bullish continuation, while rejection may result in consolidation or downside pressure. Traders should watch volume and price reaction at key levels before making decisions. The overall market sentiment, as indicated by the Crypto Fear and Greed Index, also supports a bullish outlook for XRP. The index, which takes into account critical market indicators, suggests that the current market conditions are favorable for a breakout. This, combined with the strong support and increasing momentum, positions XRP for a potential bullish move in the near future. Investors and traders should closely monitor the $2.20 resistance level, as a confirmed break above this point could signal the start of a significant upward trend.