XRP Breaks $1.7 Support: Can Bulls Maintain Momentum?

XRP has broken through the $1.7 mark, signaling a renewed push by bulls to dominate the market. This crucial step has caused excitement among many Dealerfueling speculation about its ability to make further gains. As momentum builds, the focus shifts to whether the altcoin can maintain this strength and continue its upward trend.

This article examines XRP’s rise above the $1.7 resistance and examines the factors amplifying its bullish momentum. It rates the cryptocurrency potential for further growth, taking into account the technical IndicatorsResistance levels and market trends to determine if the rally can continue or if a reversal is imminent.

Analysis of break above $1.7 resistance

On the 4-hour chart, XRP is pushing for expansion Wins towards its next resistance level at $1.9 and maintains a solid position above the support level at $1.7 and the 100-day simple moving average (SMA). Remaining above these key levels highlights its strength and signals the potential for further upside. As long as the asset maintains this strength, the next target will likely be higher resistance levels, which will push the price even further towards $1.9 and above.

The 4-hour Relative Strength Index (RSI) at 80% indicates a strong positive move for the altcoin and signals continued buying pressure. Although this suggests continued demand, the RSI approaching overbought territory means traders will be watching closely for signs of overextension or pullback that could lead to a short-term decline correction before the rally resumes.

XRP is showing sustained bullish momentum on the daily time frame after breaking through the key resistance level at $1.7 and holding above the 100-day SMA as it advances towards the $1.9 level. This solid performance underlines sustainability bullish Strength, suggesting the token is well positioned for further price appreciation. The 100-day SMA reinforces the possibility of further upside.

Furthermore, the daily RSI has risen to 89%, well above the 50% threshold, reflecting the strong positive strength of the asset. Significantly, this suggests upward pressure and continued buying activity, with no signs of slowing down. Entering the overbought zone, the RSI highlights the intensity of the rally, implying a continued increase, although traders will remain cautious about possible corrections.

Price Outlook: Can XRP secure long-term momentum above $1.7?

XRP’s price outlook is closely related to its ability to sustain above the $1.7 level. Remaining above this support could provide a solid foundation for an extended uptrend next destination Its all-time high is $1.9. A successful breakout above this level could open the door to new record highs.

However, if the cryptocurrency hits $1.9 and fails to break through, a pullback to $1.7 support is likely. In addition, a break below Support could lead to further losses, with the $1.3 level the next target, followed by possibly even lower levels.

Featured image from Adobe Stock, chart from Tradingview.com