XRP News Today: XRP Surges 6% to $2.96, Breaking Key Resistance Levels

XRP, the cryptocurrency associated with Ripple, has recently demonstrated a strong bullish trend, breaking above its 20-day moving average. This technical milestone has extended its upward momentum, signaling a potential continuation of its price rally. The cryptocurrency's price has been on an upward trajectory, reaching a five-month high as the broader crypto markets celebrated Bitcoin's new milestone. The bullish momentum shows no signs of fatigue, with the price approaching $3.00.

The daily chart reveals XRP trading at $2.92, having broken out of a massive compression zone that had been forming since early 2025. This breakout above $2.60 indicates a significant shift in market sentiment, with bulls gaining control. The price has remained above the 50-day and 200-day Exponential Moving Averages, further reinforcing the bullish outlook. The next major level to watch is the all-time high, which could be within reach if the current momentum continues.

However, it is important to note that the price dipping below the 20-day Exponential Moving Average (EMA) could result in a pullback to $2.65. Conversely, a solid bounce off the 20-day EMA suggests that buying on dips could be a viable strategy for investors. The bulls have been in control, and the recent rally has captured market attention, with the token climbing around 6% in 24 hours to reach $2.96, breaking above the important $2.84 resistance level.

The recent price action has also been influenced by the broader market sentiment, with XRP mirroring Bitcoin's bullish momentum. The cryptocurrency has broken out of a classic descending triangle pattern, further adding to the bullish narrative. The stability of the price above key moving averages indicates that the bulls remain in control, and the next major level to watch is the all-time high.

In summary, XRP's break above the 20-day moving average and its subsequent bullish run have positioned it for further gains. The cryptocurrency's price has shown resilience, remaining above key moving averages and breaking out of significant resistance levels. While there is potential for a pullback, the overall sentiment remains bullish, with the next major level to watch being the all-time high. Investors should keep an eye on the 20-day EMA as a key support level, as a bounce off this level could signal further upside potential.