XRP is trading just below the critical $2 level, a level that was the local high during the 2021 bull cycle. The price has been steadily rising, driven by bullish momentum, and appears poised to continue rising. Investors and analysts are closely monitoring the charts for a final signal confirming a break above this key resistance.

This psychological price level is a focal point for market participants, and a successful breach can mark the beginning of a sustained escalate. Top analyst and investor Murky Defender commented on XRP’s prospects by sharing a detailed technical analysis of X. According to his insights, XRP is expected to reach $2.13 in the coming days, followed by a tiny correction. Murky Defender also predicts further price gains following this decline as XRP continues to inspire bullish sentiment.

A confirmed break above $2 could pave the way for recent multi-year highs, while a failure to break above that level could lead to near-term volatility. With its historical significance and current market dynamics, the $2 mark represents both an opportunity and a challenge for XRP. All eyes are now on whether the token can reclaim this milestone and chart a path higher.

XRP attracts recent demand

XRP has surged more than 50% this week, fueled by a wave of fresh demand that continues to drive the price towards recent supply levels. The bullish momentum has generated a lot of interest among investors and analysts, with many speculating on the token’s next move.

The best analyst and investor of Murky Defender shared detailed technical analysis of X, highlighting the evolving XRP market structure on the 4-hour chart. According to his observations, XRP is likely to reach $2.13 soon before a potential correction occurs.

Murky Defender analysis also identifies key resistance levels on the 4-hour time frame. Notably, the resistances at $4.11 and $6.42 align with his secondary price target of $5.85, which follows a retest of support at $1.88. These levels suggest a roadmap for XRP price action if the current rally continues.

As XRP approaches these critical price zones, the coming weeks will be crucial in determining its trajectory. Although the bullish mood dominates, there remains the possibility of corrections or consolidation. A decisive break above $2.13 could pave the way for recent highs, but a failure to hold key levels could trigger near-term volatility.

For now, XRP’s impressive performance and emerging demand position it as one of the most closely watched assets on the cryptocurrency market.

Reaching multi-year highs

XRP is currently trading at $1.88 after an impressive run since November 5, marking a staggering 285% gain in less than 30 days. The price recently hit a critical level of $1.95 and has since entered a consolidation phase as it gains momentum to break above the key $2 mark. This consolidation suggests that XRP is building the fuel necessary for a potential breakout.

Price action remains strongly bullish, supported by positive market sentiment and rising demand. Analysts are closely watching the cycle high at $1.97, as a break above that level would likely signal the beginning of a recent phase of growth. A confirmed break above $1.97 would not only strengthen the bullish structure, but could also push XRP towards uncharted highs, which is consistent with predictions of a parabolic rally.

However, consolidation near these levels indicates that XRP is facing transient resistance. Market participants are now eyeing key support zones to ensure that the current upward momentum remains intact. If upward pressure continues, XRP’s next targets could quickly surpass historical levels, solidifying its position as one of the leading assets in the crypto space. For now, XRP remains the focal point for traders and investors as it nears the $2 threshold.

Featured image from Dall-E, chart from TradingView