Ripple price analysis: will XRP break above $ 4 this week?

Ripple was recently collected to test the most important resistance zone of $ 3.6. If buying the pressure continues and protects an outbreak above this level, the relocation can clear the road for extensive progress to the $ 4 area.

By Shayan

The daily graph

XRP was recently bounced from the critical support zone of $ 2.8, which matches the 0.5 Fibonacci racement of the earlier rally.

This confluence attracted a remarkable purchase interest and caused a sharp revival to the resistance range of $ 3.4 – $ 3.6. This zone represents an earlier Swing High and a probably area of concentrated delivery, making it a considerable obstacle for buyers to erase.

If bulls successfully recover the $ 3.6 level with a strong volume, the path to the psychological threshold of $ 4 becomes more feasible. Given the overhead stock, however, some short -term consolidation or a small withdrawal of $ 3.6 is possible before a persistent attempt.

The 4-hour graph

The upward structure of Ripple is more pronounced in the 4 -hour period. After a period of consolidation within a bullish flag formation, the market found support at the FIB level of 0.5 and he decided on the benefit. This breakout has fueled the advance to the $ 3.6 resistance.

If buyers can overcome this barrier, the resulting breakout can cause a short squout, which accelerates the price to $ 4.

Conversely, repeated rejections at $ 3.6 could lead to another consolidation phase within the current range before the next directional movement.