XRP holders witnessed a key price milestone, with the asset closing at its highest daily price level. The market surge fueled optimism, pushing XRP toward its all-time high. Analysts are eyeing key resistance levels as they assess the potential for further gains. While technical indicators suggest strong bullish momentum, traders remain cautious about possible corrections.
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XRP Breaks Major Price Milestone
Blockchain analyst and YouTube presenter Blockchain Backer highlighted XRP’s record-breaking daily close at $3.14. This price exceeded its previous high from January 2018. For the XRP community, the milestone represents a technical and psychological breakthrough, according to the expert. “Being over $3 was a long-awaited accomplishment after years of price stagnation,” he said.
According to Blockchain Backer, the move confirms a broader uptrend. The analyst pointed out that XRP’s price action aligned with its market cap expansion. He cited a Fibonacci extension model, projecting a possible price range of $8 to $11 soon.
Technical Indicators Show Bullish Momentum
Blockchain Backer analyzed XRP’s chart, identifying crucial support and resistance zones. He emphasized the significance of $2.90, marking the peak from December 2021, and $2.75 as a key daily close support level. The price movement above these levels signaled strength, with minimal resistance left toward its all-time high.
Momentum indicators also pointed to continued bullish trends. The analyst noted that XRP not only broke through its previous peaks but also sustained strong market participation. He warned, however, that traders should monitor potential pullbacks and test key support zones before expecting further rallies. At publication, XRP trades at $3.26.
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XRP Continues to Outperform Bitcoin
XRP’s performance against BTC has been a crucial talking point. Blockchain Backer highlighted that XRP has consistently outperformed BTC since May 2021. He noted that investors who held XRP during this period saw better returns than those holding Bitcoin.
The analyst also referenced the XRP/BTC trading pair, which has shown signs of continued strength. He suggested that XRP’s momentum relative to Bitcoin could be a sign of broader market shifts.
Future Outlook and Market Sentiment
Blockchain Backer expressed optimism about XRP’s trajectory. He acknowledged the emotional toll that long-term holders endured during past bear markets. However, with XRP now just cents away from its ATH of $3.84, the analyst suggested that a new peak could be imminent.
Despite the excitement, Blockchain Backer urged caution. He advised traders to watch support levels and avoid speculative trading. He concluded by stating that if an all-time high were to occur, he would provide immediate updates for his audience.
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