XRP has broken through a key resistance level, reaching price levels not seen since multi-year highs set in 2021. The cryptocurrency has been on an aggressive upward trajectory for over three weeks, signaling forceful bullish momentum in the market. Both investors and analysts are closely monitoring the XRP price action as it shows no signs of slowing down.

Renowned cryptocurrency analyst Ali Martinez recently shared compelling technical analysis, suggesting that XRP will reach $2 in the near future. His analysis highlights XRP’s forceful breakout above critical resistance levels, supported by high trading volume and positive market sentiment. Martinez believes this momentum could see the token reach its next significant milestone much sooner than expected.

As the altcoin market continues to grow, XRP stands out as one of the most successful assets, attracting increasing attention from both retail and institutional investors. The coming days will be crucial in determining whether XRP will be able to maintain its bullish momentum and overcome further resistance levels. With technical indicators in line with positive forecasts, XRP appears poised to continue to grow, solidifying its place as the leading cryptocurrency in this market cycle.

XRP is testing the previous cycle’s high

XRP rose to an impressive high of $1.93, testing critical supply levels that peaked in the last cycle. In 2021, Ripple was embroiled in legal disputes with the SEC, which created uncertainty for the cryptocurrency. However, the landscape has changed significantly since then, with Ripple gaining positive momentum from the lawsuit and renewing investor confidence, taking XRP to modern heights.

Martinez presented positive forecasts, sharing technical analysis on X this suggests that XRP is likely to cross the $2 milestone soon. Martinez identifies this level as a key target as the cryptocurrency’s momentum increases.

The price of XRP has increased by over 280% in less than a month, reflecting the strength of the current uptrend. Analysts are closely monitoring whether XRP can break the psychological $2 mark, which would mean a continued rally toward multi-year highs.

The bullish sentiment around XRP is further supported by growing trading volume and forceful demand from both retail and institutional investors. As the token approaches multi-year highs, the focus is on whether it will be able to sustain this gain and break through a key resistance zone.

For now, XRP continues to demonstrate remarkable resilience and growth potential, positioning itself as a standout performer in the cryptocurrency market.

Technical details

XRP is trading at $1.93, after yesterday’s remarkable 16% gain and today’s gain of an additional 7%. The cryptocurrency continues its aggressive push towards the critical $2 level, attracting the attention of analysts and investors alike. This sustained growth reflects growing confidence in XRP’s potential while testing the supply zones that once marked the high in the last cycle.

Despite the bullish momentum, there is a forceful possibility that XRP could consolidate below the $2 level for a few days. Such a pause could set the stage for a more explosive move as the broader cryptocurrency market braces for a potential breakout. Historically, consolidations at key resistance levels have often preceded significant price increases, and the current setup follows this pattern.

XRP’s aggressive breakout above $1.62 was a key moment, reinforcing bullish sentiment across the market. Many investors are now expecting XRP to challenge and break the previous cycle’s all-time high (ATH), setting the stage for a modern phase of price discovery. Given the momentum and growing interest from both retail and institutional players, XRP’s path could redefine its position in the market, marking a significant milestone in its price journey.

Featured image from Dall-E, chart from TradingView