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As the market adjustment paused this week, XRP recovered and rose 15% in the past week. The asset has been showing signs of strength every day and looks set to rise, but currently faces resistance lines.

Last month's adjustment severely reduced the price of XRP, as it lost about 10% of its valuation in three weeks. This led to a small bearish phase, with the crypto ending 2024 on a weak note.

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However, at the start of the new year, the currency pair is showing a recovery trend, and the daily chart currently shows signs of strength. The currency pair still faces minor resistance below $0.25, but a breakout may occur in the coming days.

The latest positive trend indicates that the buying volume of XRP has increased significantly since yesterday, which may lead to a bullish trend. However, the bullish signal has not been confirmed before the price breaks through the monthly high point.

Continuous breakdown of the downward resistance line may lead the market to a temporary consolidation phase, followed by a strong rebound. Otherwise, the market may fall back to the nearby support and then launch the bullish trend at full speed.

Nevertheless, from a macro perspective, the overall market structure remains bullish. The price must fall below the $0.4 level for us to start considering a bearish trend.

Key XRP Levels to Watch

Currently, the stock has responded positively to the recent market rally, but is currently facing resistance at $0.25. Breaking through this resistance level could lead to a full rebound to $2.9 and potentially break through $3.3.

If the price falls below $2.15 and reaches the $1.9 support level, the lower breakout level to consider is $1.63, followed by $1.28.

Key Resistance Levels: $2.5, $2.9, $3.3

Key Support Levels: $1.9, $1.63, $1.28

• Spot Price: $2.38
• Trend: Bullish
• Volatility: Medium