Furthermore, the sequence of candles shows that the XRP price is steadily building above a long-standing resistance region that has capped XRP since early 2018. This level was previously the 3-month candlestick close during XRP’s all-time high run in 2018, and it has now been flipped into strong support.
From a technical perspective, the new higher quarterly close solidifies the breakout structure from $2.25 on the macro timeframe. Quarterly closes as more reliable signals than shorter-term moves, since they are less susceptible to volatility and manipulation. A close of this magnitude means XRP has entered a new price discovery phase above $2.25, and there’s now a strong case for the cryptocurrency to push into new all-time highs.
At the time of writing, XRP is trading at $2.26.
