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Recently, the XRP currency has shown a significant upward trend, with the current price fluctuating around $3.45. This surge is not coincidental, but rather the result of multiple factors working together.
From a technical analysis perspective, XRP has broken through a key price level, showing strong upward momentum. At the same time, the long-standing SEC lawsuit that has plagued XRP is about to reach a conclusion, which undoubtedly boosts investor confidence and prompts the market to respond positively.
Based on the current trend, analysts predict that XRP may test the range of $4.7 to $6.5 in the short term, with a conservative estimate reaching the $5 mark. If there are no unexpected factors to interfere, this upward momentum may continue for a while.
It is worth noting that the trend of XRP is also closely related to the overall cryptocurrency market. If Bitcoin maintains an upward trend and boosts the overall market sentiment, XRP is likely to benefit from it, and it is even possible that it could break through the $10 barrier.
However, investors must remain vigilant. Currently, $3.20 is an important support level. As long as this level is maintained, XRP is expected to directly challenge $5. However, if this support is broken, it may first pull back to the range of $2.9 to $3.0 for consolidation.
Overall, XRP is currently in a positive upward channel, with both technical and news factors providing support. For investors looking to participate, around $3.45 may be a noteworthy entry point. However, the cryptocurrency market is highly volatile, and investors should act with caution and ensure proper risk management.