XRP News Today: XRP Surges 75% to $3.40, Bullish Trend Intact

XRP, the cryptocurrency, is currently trading above the crucial Fibonacci 1.0 level at $3.40, demonstrating a strong bullish trend. The token has recently surged from below $2.00 to $3.50, indicating a breakout from a prolonged period of consolidation. This upward movement has placed XRP within a descending bullish flag pattern, a common continuation pattern in uptrending markets.

Analysts suggest that a retest of lower support levels could still be possible before the next leg up, despite the current strength. If the price action breaks above the flag's upper trendline, a bullish continuation toward $4.16 could follow. However, if the token revisits the Fib 0.888 level at $3.12, it could still support a bullish setup. The Fib 0.888 level acts as a potential support. If bulls defend it, the structure is intact. On the downside, failure to hold $3.12 could open the way to further dips at $2.89, $2.72, or $2.55, which align with the Fib 0.786 to 0.618 zones.

The average price is at $3.44, slightly below the current price, supporting positive short-term momentum. The 50-day and 200-day moving averages remain widely apart, with the 50-day MA at $2.386 and the 200-day MA at $2.213. This golden cross pattern indicates long-term strength in the trend. Volume indicators continue to show bullish conviction. The Accumulation/Distribution (A/D) line has risen to 1.757B, while the On-Balance Volume (OBV) is at 2.311B. Both metrics have climbed steadily since early July, pointing to sustained buying pressure over the past few weeks.

Momentum indicators now suggest caution in the short term. The Stochastic RSI reads %K at 87.09 and %D at 90.85, both in overbought levels. This may hint at a brief pullback or sideways action before continuation. However, the overall outlook is bullish, supported by strong volume and positive price positioning. If XRP maintains levels above $3.12 and breaks above the descending flag, the next upside target is at $4.1602.