XRP showed a strong rise, leaving behind the $ 1.45 level, which it could not exceed for a long time. The price has not been receiving upward reactions from this region for a while. However, in the last movement, the suddenly increasing transaction volume in the market attracted attention. Analysts are of the view that the volume increase reflects major investor movements.
Critical resistances exceeded in XRP
For weeks, analysts have been pointing out that the XRP price has been trading in a tight band just below $1.45. Although there were upward attacks in the market in the short term, this resistance could not be overcome. It was stated that between 16:00 and 17:00 on May 10, the volume exceeded 169 million units, and the price closed above the $ 1.4450 level in a short time. Then, XRP rose to $1.5073, but resales accelerated at this level, pushing the price to around $1.45.
Low liquidity in many stock exchanges also came to the fore as a factor that increased the severity of the rise. In the analysis, it was emphasized that breaks in such periods could pave the way for sharper price movements in both directions.
Signal of a breakout from horizontal bands
According to experts, XRP traded in a price range of 6.5 percent in the short period from $1.4176 to $1.4524. After the first clear move above the $1.45 level, the price soon settled at $1.50. However, there was a short-term fierce conflict between buyers and sellers.
Many analysts evaluated that, “The volume explosion in XRP indicates that the rise is supported by large capital inflows from small investors. After the price quickly exceeded the $ 1.45 barrier, selling pressure increased, especially at $ 1.50.”
In the current situation, closings above $ 1.45 maintain the positive atmosphere; $1.50 has become a new resistance point. In analysts’ opinion, the $1.44–$1.45 range continues to act as support. In a possible downward break, the price can be expected to drop to the 1.38-1.40 dollar band in the first place.
New targets and risks
If the price remains persistently above $1.50, the next target may be $1.56. After this, the possibility of a rise to $1.80 is also on the table. However, if the resistances mentioned above are not overcome, the price may fall below $ 1.44 again due to the effect of profit taking and short-term sales.
While there was a short-term pause in the market after the rise, it is noted that the market structure is still upward. The $1.44-$1.45 range is critical in declines. As long as the price continues to stay above this level, the overall positive structure can be maintained.
Some analysts argue that the upward movement has been technically confirmed by the breaking of the triangle and flag formations that have formed in XRP in recent days. However, they state that fluctuations continue unless $1.50 is permanently exceeded.
As a result, the sudden volume increase and resistance break in XRP continues to generate important signals in the short term. How price pressure and momentum will be shaped will depend on price movements in the coming days.
