XRP News Today: XRP Surges 18% as Bullish Momentum Builds Toward $3.18

XRP's price action is currently experiencing a surge, with technical indicators suggesting a potential breakout above the $3.18 level. The cryptocurrency has been on a steady climb, attracting traders seeking short-term gains. Analysts maintain that XRP's bullish structure remains robust, with shallow pullbacks reinforcing market strength. The current focus is on a critical resistance zone, which, if breached, could pave the way for further price discovery. Market conditions indicate that XRP may be entering an acceleration phase, characterized by rising dominance and strong trendline support.

XRP recently retraced to the $2.85 mark, aligning with the .236 Fibonacci retracement level. This retracement was relatively shallow, a positive sign for bullish continuation. The price held above the .118 and .236 levels, which are considered strong indicators of buying strength during a retrace. The analyst noted that XRP is approaching $3.04 again, a macro resistance level that must flip into support. A successful move above that mark would set up the next push toward the $3.18 level. This area is seen as a potential turning point, where buyers will need to maintain control to avoid rejection. A key trendline on the hourly chart continues to support the ongoing rally. Based on that structure, a potential move to $3.18, where multiple resistance indicators converge, was projected. If XRP hits that level and retests $3.04 successfully, the setup could drive a stronger upward leg.

Meanwhile, Egrag Crypto emphasized XRP’s performance over overall crypto dominance. The trader said XRP has broken out of a falling wedge pattern on the monthly chart, with a potential measured move up to 18%. He also pointed to a bullish rectangle formation that could extend dominance to 27%. According to him, XRP needs to hold above 10% dominance to be considered successful in this cycle. Anything less would signal a weaker performance relative to the broader market. Egrag also analyzed XRP’s RSI, highlighting its current alignment with past cycle patterns. He outlined three stages: the initial pump, the cycle bottom, and the upcoming blow-off top. With RSI levels approaching 80 and above, he noted that traders should watch closely for signals confirming a top. He added that while no one can predict exact numbers, staying prepared and emotion-free remains critical. Egrag plans to hold 30% of his XRP allocation regardless of future price action, expecting the final rally phase to unfold soon.

As XRP continues testing key levels, eyes remain on $3.18. A confirmed breakout could shift market sentiment and drive renewed momentum into uncharted territory. The current bullish momentum and technical indicators suggest that XRP is poised for further gains, with the potential to reach new highs if key resistance levels are successfully breached. The market's focus on XRP's performance and its potential to lead the broader altcoin market highlights the cryptocurrency's significance in the current trading environment.