Key takeaways
- XRP has reclaimed the $3 level after gaining nearly 3% on Tuesday.
- Momentum indicators suggest weakening bearish pressure and point toward a likely bullish continuation.
XRP tops $3 as broader market shows early signs of recovery
The cryptocurrency market started the week on the back foot but has shown signs of recovery. Bitcoin has risen about 1% and is trading above $111,000, while Ether has climbed roughly 4% to trade above $4,600.
Ripple’s native token, XRP, has also joined the rebound, retaking the psychological $3 mark after a rally of over 3%. With bullish momentum building, the coin may extend gains in the coming hours and days.
This move coincides with CME Group reporting that its crypto futures platform has exceeded $30 billion in notional open interest for the first time. CME noted that futures for SOL and XRP each crossed $1 billion in notional open interest, with XRP’s contract being the quickest to reach that level—just over three months after launch.
Growing institutional participation appears to be supporting XRP’s price and could help sustain further upside in the near term.
XRP targets $3.7 as bullish momentum surfaces
On the XRP/USD 4-hour chart, the outlook is constructive after XRP gained nearly 3.5% over the past 24 hours. The token had fallen more than 5% on Monday, briefly closing below the 61.8% Fibonacci retracement level at $2.99.
XRP has since rebounded and now trades above the $2.99 support zone. The relative strength index (RSI) sits around 54, indicating increasing bullish momentum, while the MACD has moved into positive territory—both signals that buyers are regaining control.
If the recovery continues, XRP could test the next daily resistance level near $3.40. A sustained bullish run would open the path toward the yearly high around $3.66 and potentially the recent all-time high area near $3.80.
On the downside, a correction could push XRP back below $2.99, exposing the next significant support near $2.72. Traders should monitor volume and momentum indicators for confirmation of either continuation or reversal.
Overall, current technical signals point to a strengthening bullish bias for XRP, supported by increased institutional interest. However, typical market volatility means short-term pullbacks remain possible, and risk management is advised for traders and investors.