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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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#XRP# is looking for a breakout at the 3.70-3.80 Dollar level.
The price of $XRP is trading near $3.11, maintaining a strong upward momentum after its recent rise of 19%, following a previous increase of 57% from the consolidation base. The price is stable above the key support area at $3.00, which previously acted as a breakout level.
Trading Setup
Entry Zone: 3.05 Dollar - 3.12 Dollar at dips
Stop loss: Less than 2.95 Dollar to mitigate risks
Target 1: 3.50 Dollar - near-term resistance
Target 2: 3.70 Dollar - 3.80 Dollar - Key supply zone
The technical outlook
After bouncing back from a major low near 2.35 Dollar and exiting a long consolidation phase around 2.66 Dollar, XRP shows a pattern of impulsive rises with short-term consolidation. A strong move above 3.20 Dollar with trading volume may confirm its move towards the next resistance range near 3.80 Dollar #July PPI Beats Expectations# #ETH ETFs Top $30B# #Gate Alpha Peak Trading Competition# #Gate Releases August Reserves Report#