XRP News Today: XRP Eyes $3.30 Breakout as Bitcoin Nears $120,000 Resistance

XRP is displaying early signs of a potential bull run, currently trading at approximately $3.07, having recovered from a recent low of $2.80. For a confirmed upward trend, the asset must surpass $3.30, a level that has previously acted as resistance [1]. The 50 EMA and 100 EMA provide critical support at $2.80 and $2.60, respectively, and any drop below these levels could signal weakening bullish momentum. Despite showing strength above the 26 EMA—a key short-term support—traders are advised to remain cautious, as a single positive indicator does not guarantee a sustained upward movement [1].

Simultaneously, Bitcoin has broken through the $115,000 resistance level, marking a technically confirmed breakout. However, the asset is now approaching $120,000, a historically significant ceiling that has led to price rejections in recent months. The 26 EMA, 50 EMA, and 100 EMA are all sloping upward, forming a bullish structure on the chart. Yet, volume has remained subdued, suggesting hesitation among buyers as the market edges toward overbought territory. The RSI is at a neutral 52, offering little conviction and allowing for potential movement in either direction [1].

Solana also exhibits signs of potential volatility, with its price currently at $172 and showing a tight EMA compression around the $162–$165 range. This pattern is reminiscent of its October 2024 rally, which saw the asset surge 84% before reversing. The RSI remains just below the overbought zone, and muted trading volume suggests accumulation rather than distribution, adding intrigue to the current setup. A breakout could see a sharp increase in volume, but if the $180 level is not regained, a retest of $162 or lower is possible [1].

The current market structure indicates that XRP is on the cusp of a potential bullish phase, while Bitcoin and Solana face critical resistance levels that will determine the next phase of price movement. Traders are urged to monitor these key levels closely as they could provide insights into broader market sentiment and direction [1].

Source: [1] XRP Shows Early Signs of Potential Bullrun as Bitcoin Approaches Key Resistance Levels (https://en.coinotag.com/xrp-shows-early-signs-of-potential-bullrun-as-bitcoin-approaches-key-resistance-levels/)