XRP achieves a remarkable breakout with a significant rise in prices

Over the past twenty-four hours, the price of XRP has seen a noticeable rise of more than 5%, reaching $2.45 on the morning of July 10. This upward trend has allowed the price to break through the critical resistance range between $2.31 and $2.36, indicating a potential shift in market sentiment. Market analysts emphasize the importance of today's candle close, scheduled for July 11 at 02:59. A close above $2.36 could pave the way for continued momentum, while failure to do so might reinforce short-term selling pressure.

The decisive day for the XRP resistance level
Experts indicate that today's candle close will determine whether XRP can surpass the $2.36 barrier. A breakout above this level may push the price towards the $2.44-$2.45 range, and possibly to the $2.61-$2.62 area, in line with the local peak recorded on May 15. In technical analysis, the formation of the emerging upward channel indicates the need for buyers to maintain this area as a new support zone. This development aligns with the global situation. Trading volumes in the cryptocurrency market increased during the New York session on July 9, with trades focusing on the Binance and Coinbase exchanges.
If today's candle closes below $2.36, buying interest may weaken, pushing the price back to the range of $2.31-$2.27. This area coincides with the lower boundary of the ascending wedge pattern we see in the short-term charts. A drop below $2.27 will disrupt this pattern, placing sellers' targets at $2.21 and $2.17 respectively. Therefore, the daily volatility will depend on the positions of investors in Asia, Europe, and New York.