XRP is up over 8% - Will the next target be 3.61 USD?

The crypto market today has witnessed a strong explosion, reflecting a marked increase in the venture capital investment demand from traders.

A special highlight is the strong breakout of leading altcoins, as most have recorded a new wave of interest from investors. Among them, XRP has become one of the leading tokens in the race, recording an increase of 8.1% at the time of writing, after several weeks of trading within the range of 2 dollars to 2.3 dollars. With the strong growth momentum of the crypto market, experts are providing important insights into the upcoming development trends of this fourth largest cryptocurrency.

XRP price surpasses important target

The price of XRP has surged strongly in the past 24 hours, recording an increase of 8.1% and officially surpassing the short-term resistance level of $2.60. At the time of writing, the coin is trading at $2.81, indicating strong confidence from investors in the potential of XRP.

Data from the derivatives market also shows positive growth momentum. According to information from CoinGlass, the open contract (OI) of XRP surged over 12%, reaching a high of 6.39 billion dollars, the highest level since February this year.

XRP's OI | Source: CoinglassHowever, the RSI index of XRP has now surpassed 70, reaching 79.6, signaling the overbought condition of this cryptocurrency. Such a high RSI often makes investors cautious, as it may create short-term correction pressure. Some market participants may choose a cautious strategy, using this time to take profits, especially when prices have been rising rapidly recently.

Nevertheless, despite short-term concerns, experts remain optimistic about the long-term prospects of XRP. The breakthrough above the resistance level of $2.6 has reinforced confidence in the positive trend of this currency, and this coincides with the latest forecast from renowned analyst Ali Martinez.

In a recent post on X, Ali Martinez predicted that the price of XRP could reach 2.6 dollars, a prediction that has attracted strong attention from the investment community. Notably, this prediction was made when the price of XRP was only fluctuating around 2.34 dollars, causing optimistic investors in XRP to feel even more hopeful about this breakout.

Ali Martinez's XRP price target | Source: X## Can XRP maintain its upward momentum?

As the price of XRP continues to record new all-time highs after a week of consolidation, the question many investors are asking is whether this upward momentum can be sustained. In other words, the potential for this altcoin to continue appreciating in the near future is a hot topic of discussion.

The recent price surge has pushed the value of XRP up by about 18% on the weekly chart, while extending the monthly increase to around 13%. This indicates strong attraction from investors and confidence in the long-term potential of this cryptocurrency.

Given the current context, market experts have shared important analyses and forecasts regarding the potential volatility of XRP in the coming days.

Famous analyst EGRAG CRYPTO believes that XRP could reach levels of $2.7 to $2.8 before a correction occurs. After that, the price may continue to rise higher; however, this forecast indicates the possibility of a short-term correction after reaching the target.

XRP price analysis by EGRAG CRYPTO | Source: XMeanwhile, the RSI chart analysis by Dark Defender shows a promising outlook as the price could surge to $3.61, with clear similarities to the increase last November. At the same time, AltcoinGordon also stated that XRP could reach $3.4, adding more hope for optimistic investors.

However, caution is still advised. Technical indicators, while valuable for reference, cannot guarantee future profits. Analysts agree that, although the outlook for XRP is quite promising, the cryptocurrency market is always subject to significant volatility, and risks still exist.

Analysis of XRP price by Dark Defender | Source: X## Potential price volatility of XRP in the future

Analyst CasiTrades predicts that $2.69 will be the next important threshold for XRP. This is the minimum resistance level that has been surpassed, and if the current momentum continues, the price of XRP may reach this target. However, CasiTrades also advises investors looking to enter a position to wait until the price pulls back to the $2.45 range instead of chasing the immediate breakout.

When the threshold of 2.69 dollars was broken, two scenarios could occur: (1) the price could be rejected and pull back, or (2) continue to break through and test the support level, leading to a continued uptrend to 3 dollars or higher.

Analysis of XRP price by CasiTrades | Source: XThis analysis is also consistent with EGRAG CRYPTO, which warns of a short-term pullback when the price reaches $2.70. However, despite the short-term correction, many analysts remain optimistic about the long-term performance of XRP, especially if the coin can maintain a positive trend in the future.

Meanwhile, analyst Javon Marks has pointed out that the historical performance of XRP suggests there could be a surge to at least $9.6. This reinforces the belief that XRP may continue to maintain a strong upward trend in the future.

However, investors need to remember that past performance cannot guarantee future volatility. The crypto market always carries significant risks, and caution is necessary in every investment decision.

Annie