XRP News Today: XRP Price Nears $2.34 Resistance Amid Bullish Momentum

XRP price is currently approaching a critical resistance zone near $2.34, which represents the upper boundary of a symmetrical triangle visible on the daily chart. This triangle has been forming since the December 2024 high, with the price recently hitting $2.3378 and now hovering around $2.3249. The ascending base of the triangle remains firm near $2.05, and the daily Parabolic SAR dots have flipped below the candles, signaling a short-term bullish shift. The True Strength Index (TSI) on the daily chart is pushing higher, currently reading 0.90, suggesting building upside pressure. Traders are closely watching for a decisive candle close above the triangle edge to confirm a breakout.

The primary reason for the recent upward movement in XRP price is the bullish structure alignment across multiple timeframes and improving sentiment in derivatives markets. On the 4-hour chart, XRP is trading above the 20/50/100/200 EMAs, with the EMA20 near $2.28 providing dynamic support. Bollinger Bands are expanding with the price currently testing the upper band near $2.34, a signal often associated with volatility breakout attempts. Derivatives data confirms increasing long-side appetite, with open interest climbing by 4.3% to $5.14B and funding rates moderately positive, showing continued demand. Long/short ratios on Binance (2.06 for top traders) further underline bullish dominance despite a drop in daily volume. Short-term oscillators support the move, with RSI on the 30-minute chart at 61.03 and climbing, while MACD has crossed bullish with histogram bars expanding. These indicators confirm growing momentum behind the current push.

On the 4-hour Supertrend chart, XRP remains in a bullish state, with the trend flip level now at $2.22. The Directional Movement Index (DMI) supports the breakout case, with +DI leading at 31.72 while ADX reads 28.78, indicating a strengthening trend. From a liquidity standpoint, XRP reclaimed the Point of Control near $2.22 earlier this week and has since respected it as support. This flips previous resistance into a fresh demand zone. Weekly Fibonacci retracement levels add further context, with XRP currently trading above the 0.5 Fib ($1.94) and approaching the 0.382 zone near $2.286. A close above $2.34 would open the door toward the 0.236 Fib level at $2.712. The Money Flow Index (MFI) on the daily is reading 68.83, just shy of overbought, while the Chande Momentum Oscillator has surged above 80. Both reflect elevated capital inflow and high short-term momentum, validating the recent price spikes.

If XRP price successfully closes above $2.34 with volume support, the next immediate target lies at $2.55, followed by a key supply zone near $2.71. This would confirm the triangle breakout and likely attract new buyers. On the flip side, failure to break above $2.34 could result in another pullback toward $2.22, the EMA confluence and former resistance-turned-support. A breakdown below that could expose XRP to a revisit of $2.05 — the base of the triangle. Given the bullish stacking of EMAs, rising derivatives interest, and supportive momentum indicators, the probability of a sustained upward move is increasing. However, volume remains the final arbiter for breakout validation.