XRP Price Confirms Bullish Reversal Setup With This Demand Zone 📈
A recent technical analysis highlights that XRP has confirmed a bullish reversal setup on the 1-hour chart after rebounding from a crucial demand zone. This development raises the prospects of a short-term rally, driven by strong buying interest. The zone, between $2.31246 and $2.37028, historically sees price declines reversing.
The analyst 'FrankFx14' noted that as long as XRP remains above $2.37028, its bullish outlook is intact. Indicators like LuxAlgo support this claim, projecting $2.4939 as a key resistance level, with $2.6031 as the next bullish target.
Meanwhile, analysts anticipate a potential mega rally after XRP broke out of a Falling Wedge pattern, suggesting a mid-term surge aiming for new highs around $4.90. Presently, XRP is testing the breakout level, which could support further growth towards $4.90, marking a 114% increase.
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