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coinpedia 2025-01-06 08:20:40

Bears Tighten Their Grip at the Resistance: Will XRP Price Launch a Bullish Attack & Rise Above $2.5?

The post Bears Tighten Their Grip at the Resistance: Will XRP Price Launch a Bullish Attack & Rise Above $2.5? appeared first on Coinpedia Fintech News Apart from Bitcoin or Ethereum, the XRP pric e has managed to gain massive attention since the start of 2025 with its gigantic moves. The token managed to surge by over 25% in the first few days of the year, which turned the traders optimistic about the next price action. Meanwhile, the upswing was backed by a restricted volume; hence, breaching above the crucial resistance appeared to be a tedious job. This suggests the bulls are yet to enter the play as the price is failing to retrace from the past couple of days. Have the bulls fallen weak? Will the XRP price reach $3 this month? The latest rise in the price has lifted the token to become the third largest token after Bitcoin & Ethereum, with a market capitalisation of above $138 billion. Even though the price failed to breach the levels, the bulls have maintained it along the resistance. Therefore, there are enough chances for the token to trigger a fine rebound that could help the price rise above the descending pattern. The daily chart of XRP suggests the bullish attack has been initiated as the price levels have surged above the decisive symmetrical pattern. However, the bullish flip has not been validated yet as the levels remain stuck to the resistance but below $2.5. Besides, the RSI is displaying the possibility of forming another lower high, suggesting more retracement could be fast approaching. However, the bull market support band (BMSB) displays a bullish crossover, indicating a flip in the prevailing trend from bearish to bullish. As mentioned before, the volume remains the main concern as it has been consistently draining. Besides, it can also be looked at as a massive volume squeeze due to uncertainty prevailing because of external factors. Hence, excessive squeeze usually results in a massive explosion, which is expected to occur shortly. Therefore, the XRP price continues to remain under the bullish influence, but after a few confirmations, a fresh bullish wave may begin, elevating the levels beyond $2.5 in the next couple of days.

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