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Synopsis
XRP has successfully broken through a crucial resistance zone, including the POC and 0.618 Fibonacci level. If confirmed by volume, the path to $3 looks promising.
XRP has recently achieved a significant technical milestone by breaking through a multi-layered resistance zone, which includes the point of control and the 0.618 Fibonacci retracement level. This breakout has led to a bullish sentiment, with traders now focusing on whether XRP can maintain its position above the $2.40 mark. The successful closure above this resistance suggests a potential shift in market dynamics, paving the way for a target of $3. The psychological importance of this level, combined with its historical resistance status, makes it a focal point for traders. As XRP continues to print higher lows, the market is watching for confirmation through increased trading volume. A retest of the breakout zone at $2.40 would further solidify the bullish outlook, establishing a new higher low and enhancing the structural integrity for potential upward movement. Overall, the current price action indicates a strong possibility for XRP to reach the $3 target in the near future, contingent on sustained buying pressure and volume confirmation.
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XRP Surpasses Key Resistance, Eyes $3 Target
XRP has successfully broken through a crucial resistance zone, including the POC and 0.618 Fibonacci level. If confirmed by volume, the path to $3 looks promising.