2025-8-14 11:43 |
Ripple’s XRP has been one of the strongest coins in recent weeks and could be set for a breakout soon.
The coin defended its $3 support level earlier this week as major cryptocurrencies recorded losses.
The market has now recovered from Monday’s slump, with XRP trading above $3.2.
If it closes above a key psychological level, XRP could be on track to reach a new all-time high in the coming days or weeks.
XRP trades above $3.2 as rate cut discussions resumeXRP is up by more than 2% in the last 24 hours, outperforming Bitcoin in the process.
This allowed it to rally past the $3.2 level and now eyes the $3.40 resistance zone.
The positive performance comes as the broader cryptocurrency market resumes its rally after Monday’s correction.
The CPI data on Tuesday showed that U.S. inflation remained at 2.7%.
It remains unclear whether the Federal Reserve will cut the interest rate in its next meeting in September.
However, there are calls for the apex bank to do so.
Treasury Secretary Scott Bessent called the Federal Reserve to consider a 50 basis point rate cut at its upcoming September meeting.
He added that the Fed could have cut rates in June if it had been given accurate data.
Analysts are expecting the Fed to cut the rate by 25 basis points in September.
If the Fed opts for a 50 basis point, it could result in a massive rally by BTC, ETH, XRP, and other leading cryptocurrencies.
XRP could hit a new ATH if it closes above $3.40 resistance zoneThe XRP/USD pair is bullish but faces a rejection from its daily level at $3.40 on Friday.
It lost 5% of its value since then, but has now slightly recovered and will attempt to break above the resistance zone again.
At the time of writing on Wednesday, XRP hovers at around $3.24.
The technical indicators are switching bullish, with the 4-hour Relative Strength Index reading 54.
The Moving Average Convergence Divergence (MACD) is also within the positive territory, suggesting a bullish bias.
If XRP closes above the $3.40 daily resistance, it could rally past the recent high of $3.66.
For the bullish momentum to be sustained, the RSI needs to stay above 50, and the MACD lines must remain at a bullish crossover, like ETH and BTC.
On the downside, if XRP fails to close above the $3.40 resistance when the daily candle closes, it could experience a pullback towards its 61.80% Fibonacci retracement level at $2.99.
An extended bearish run could see XRP drop to the Transactional Liquidity (TLQ) level at $2.73.
The post XRP could hit a new ATH if price breaks above $3.4 resistance: check forecast appeared first on Invezz
origin »Ripple (XRP) на Currencies.ru
|
