XRP Just Smashed Through This Key Resistance Level. Here’s What’s Coming Next

Xaif (@Xaif_Crypto), a well-known cryptocurrency analyst on X, recently highlighted a critical resistance level for XRP at $2.4.

In a post analyzing the cryptocurrency’s UTXO Realized Price Distribution (URPD) chart, Xaif emphasized that surpassing this level could pave the way for a significant price increase.

The $2.4 Resistance Level

The chart shared by Xaif illustrates XRP’s price distribution, showing how many coins were last moved at different price levels. One key observation is the concentration of realized price levels near the $2.4 mark.

Xaif pointed out that this level represented a major hurdle for XRP, stating that $2.4 is “serving as the crucial resistance level.” The implication was that overcoming this barrier could open the door to further gains.

In the chart, the highlighted data shows significant realized price distributions at various levels, particularly around $1.63 and $2.28, suggesting key points of historical accumulation.

These previous resistance points may now turn into support as XRP has surpassed the $2.4 resistance level, further strengthening the cryptocurrency’s upward trajectory.

XRP’s Price Surge Following SEC’s Decision

The U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple, and this monumental decision caused XRP’s price to skyrocket. The digital asset experienced a surge of over 11%, and despite a slight dip, it is now trading at $2.49, well above the $2.4 resistance level.

With this breakout, the market is assessing the potential for further price appreciation. If XRP maintains its position above $2.4, it could establish a new support level, reinforcing bullish sentiment among investors. Many traders are watching closely to see if XRP can sustain its momentum and move toward higher price targets.

With XRP on the move, analysts have predicted that the asset could reach $54.19 by the end of March, and without any price suppression from the Ripple lawsuit, these lofty targets are realistic to many investors.

As XRP trades above this key resistance level, its price action will be closely monitored. Whales in the ecosystem are already preparing for a massive price movement, and the combination of technical factors and positive market sentiment suggests that the cryptocurrency may be positioned for continued growth.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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