XRP Surges 13.65% in 24 Hours, Bulls Eye $3

XRP, the native cryptocurrency of the Ripple network, has shown remarkable resilience and strength in recent days, with analysts predicting a potential retest of the $3 level in the near future. The digital asset has been trading within a well-defined ascending channel, and its ability to hold above key support levels has sparked optimism among investors.

Crypto analyst Ali Martinez has been closely monitoring XRP's price action and has identified a crucial threshold that could determine the asset's next move. According to Martinez, if XRP can maintain its position above the $2.30 support level, it could rally towards the $3 mark, a level it previously lost in early February. The latest price action suggests that XRP is indeed following this trajectory, reinforcing the bullish outlook.

XRP's recent rebound has been impressive, with the asset gaining approximately 13.65% over the past 24 hours and trading at around $2.8. This move aligns with Martinez's earlier analysis, indicating growing investor confidence in the digital asset. The market reaction to this setup further supports the bullish case, as XRP's ability to hold above its key support and rebound with significant strength suggests renewed buying pressure.

If the price breaks through the midline resistance within the ascending channel, the next focus will be the channel's upper boundary. This could indicate further gains beyond the $3 level. Notably, another prominent analyst recently stated that the decline in XRP's price is its final backtest of any level below $3. If Martinez's prediction comes true, the asset might not fall again, paving the way for a bigger surge.

XRP's recent surge comes amid broader optimism in the cryptocurrency market. With Bitcoin and other major digital assets also showing strength, the overall market environment appears favorable for continued gains. Traders have been closely monitoring technical levels and reacting accordingly, with bulls flooding the market in anticipation of a price surge. XRP's upward trajectory has analysts like Martinez closely monitoring its progress, with some setting much higher targets for the asset's immediate future.