XRP price nears $3 milestone for the first time since 2018
Ripple (XRP) is currently trading at $2.96, just shy of the critical $3.00 mark, a price level it has not reached since 2018.
XRP’s strong performance is underpinned by its position within a rising trend channel in the medium to long term, reflecting sustained optimism among investors. This upward momentum signals the potential for continued price appreciation as buyers consistently pay higher prices to acquire the currency.
With no visible resistance on the price chart, XRP appears poised to test and possibly surpass the $3.00 milestone. Achieving this level would confirm a major psychological and technical breakthrough, likely fueling further bullish sentiment. However, caution is warranted as the Relative Strength Index (RSI) edges toward overbought territory, indicating the possibility of a short-term pullback.
XRP price dynamics (December 2023-December 2024). Source: TradingView.
Fibonacci analysis highlights $2.43 as a critical support level. This zone serves as a key safety net in case of a negative reaction, providing a potential entry point for traders looking to capitalize on dips. If XRP maintains its current trajectory, breaking through $3.00 could open the door to new highs, with the next targets aligning near $3.20 and $3.50.
Investors should monitor price action closely around $3.00, as sustained momentum above this level could mark the start of a new rally for Ripple.
On last November 29, blockchain tracker Whale Alert flagged two major XRP whale transactions totaling 139.39 million tokens. One of these transactions involved 104.39 million XRP, worth $167 million, being transferred to an unknown wallet.
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