XRP Surges After Defending $2.00 Demand Zone, Eyes Next Key Resistance
According to market analyst Tektonic, XRP has delivered a strong impulsive move after defending the crucial $2.00 demand zone. The cryptocurrency is currently trading around $2.04, consolidating after breaking out of the descending trendline that had previously capped momentum.
Well, this breakout signals a potential shift in market structure, suggesting that XRP may be entering the early stages of a bullish reversal.
The immediate level of resistance sits at $2.41, marking the next key zone to watch. A decisive break above this level would likely confirm continuation toward higher targets, potentially reigniting broader market optimism.
Conversely, failure to sustain demand could expose XRP to downside risk, with support zones in the $1.77-$2.00 range acting as critical buffers for traders.
Tektonic highlights that current market dynamics are favorable for bullish continuation. The recent consolidation above the $2.00 demand zone indicates that buyers remain active, absorbing selling pressure and positioning for potential upside. This behavior reflects a classic accumulation phase, where momentum builds quietly before a larger trend emerges.
Notably, $2.41 should be given a keen eye because a clean breakout and retest could trigger a sustained uptrend, boosting market confidence. A rejection, however, would put the $2.00 demand zone to the test, which has held strong so far.
From a structural perspective, XRP’s price action demonstrates a textbook early-stage bullish reversal. The descending trendline breakout not only removes a key barrier but also signals that market sentiment is gradually shifting in favor of buyers. Momentum indicators support this narrative, suggesting that XRP may have room to extend its gains if demand zones continue to hold firm.
Conclusion
XRP’s strong defense of $2.00 and breakout above its descending trendline signal bullish potential. Immediate resistance sits at $2.41, while the $1.77–$2.00 zone offers key support. Traders will watch whether this move sparks a sustained uptrend or remains a short-term impulse.
Source: https://coinpaper.com/13687/xrp-breaks-free-2-support-turns-bullish
