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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

XRP Bullish Surge Takes Price Within Striking Distance Of $2.9

Godspower Owie
Godspower Owie
8 months ago
3 mins read
XRP

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XRP is steadily gaining strength as its price nears the critical $2.9 resistance level, sparking excitement in the market. The surge represents a significant shift in market dynamics, with XRP showing signs of resilience and a potential breakout on the horizon. Supported by growing buying interest and favorable technical signals, the altcoin is setting the stage for what could be a decisive move upward.

As the asset inches closer to this pivotal level, traders are carefully monitoring its price action. A successful breakout would reinforce the bulls’ control and attract further interest, while a rejection could prompt a reassessment of market strategies. This moment may be a defining one for XRP since its ability to conquer $2.9 serves as a key indicator of its future direction.

A $2.9 Level In Sight As XRP Rally Gains Momentum

XRP’s price has demonstrated considerable resilience after a failed attempt to break below the 4-hour Simple Moving Average (SMA), an indicator that acts as a dynamic support or resistance level. This failed breakdown highlights the strength of the buyers, who quickly stepped in to defend the price above the SMA.

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In the aftermath, XRP experienced a series of bullish candlesticks, reflecting increasing investor confidence and a growing demand for the cryptocurrency. The strong upward momentum has pushed XRP closer to the key $2.9 resistance level, a critical point in determining the next phase of price action. 

A successful break above this resistance could set the stage for a more sustained rally, opening the door to higher price targets. If the bulls manage to maintain control and surpass this level, the market may experience a surge of buying interest as traders look to capitalize on the breakout.

XRP
XRP targeting $2.9 following recent upswing | Source: XRPUSDT on Tradingview.com

Moreover, technical indicators like the Relative Strength Index (RSI) suggest that buyers are currently in control of the market. The RSI line has surged well above the 50% threshold and is now firmly in the overbought zone, indicating strong bullish momentum. 

As the RSI rises, it further supports the view that the bulls are driving the market. Nonetheless, caution is advised as the overbought territory often signals the possibility of a price correction if buying pressure begins to wane.

Bulls Pushing Toward Key Resistance: What’s Next?

XRP’s price has built significant strength, with bulls pushing it toward the key $2.9 resistance level. As the price approaches this threshold, a breakout above $2.9 could lead to more gains, potentially forming new highs. However, the $2.9 resistance remains a formidable hurdle.

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If XRP fails to clear this level, it might face a pullback as traders may take profits or become more cautious, causing the price to retract. In such a scenario, the focus would shift to key support levels such as $1.9 that may act as a buffer against a deeper decline.

XRP
XRP trading at $2.8 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

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One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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