- The upward breakout of XRP beyond the 2.47 level has reversed the resistance into support, and the positive continuation pattern shows the likelihood of extending the targeting of the 4.804 level.
- High trading volume in the breakout of XRP indicates that there is institutional involvement that strengthens the bullish market structure and increases the likelihood of a lasting positive rise.
- The presence of oversold Stochastic RSI and Bollinger Band indicates the potential of recovery in the short run, and the price will be close to $2.97 to $3.16 in case of support.
XRP is maintaining its footing above the $2.47 support level, keeping its bullish structure intact and opening the possibility for a +66% rally toward $4.804.
Key Level at $2.47 Defines Market Direction
Market analyst JAVONMARKS noted that XRP’s resilience above $2.47 signals the continuation of a strong bullish trend. The price recently broke out of a multi-year consolidation, turning this critical barrier into support. Such flips often strengthen long-term upward momentum.
As long as XRP stays above this level, the technical setup favors another leg higher. The next logical target sits at $4.804, representing a 66% move from current prices. This projection also matches with major Fibonacci extensions and past market highs.
Failure to hold the line, however, could push the token into a retest of the $1.70–$2.00 range. Analysts emphasize that $2.47 remains the key battleground for bulls and bears in the current market cycle.
Bullish Patterns and Breakout Volume Support Rally
The breakout itself above $2.47 was also accompanied by a strong surge in trading volume, typically seen with institutional buying or long-term investors coming into the market. Heavily traded during such breakouts is typically seen as a sign of trend strength.
Following the move, XRP has been consolidating tightly above $2.47. Analysts describe this phase as a possible bullish flag or high-base continuation pattern. Both structures are historically linked with follow-through rallies when support levels hold.
With $4.804 as the immediate target, momentum could extend further if demand builds. A continuation move toward $7.126 remains possible, given historical rallies and alignment with broader Fibonacci projections.
Daily Chart Signals Short-Term Weakness and Rebound Potential
According to the daily chart, XRP is trading at a low of $2.85 compared to the midline of the Bollinger Bands, which is at $2.97. Such a stand indicates a short-run weakness since the token is still below its 20-day moving average.
The price has also tested the lower Bollinger Band near $2.77. Such levels often mark oversold conditions when paired with rising volume and expanding volatility. This increases the possibility of a mean-reversion bounce.
Momentum indicators confirm this view. The Stochastic RSI is deeply oversold, with readings near zero, levels that historically preceded sharp rebounds. If buyers defend the $2.75–$2.80 area, a recovery toward $2.97–$3.16 could materialize in the near term.
