What to know:
- TradingView shows buyers defending the $1.10 area while OBV edges higher, suggesting improving accumulation.
- Open interest has increased alongside price, while Ali Charts points to a potential move toward $1.30 if the breakout holds.
XRP price has crossed an important level that traders are carefully watching to gauge the momentum toward the $1.30 price point. XRP has returned to the spotlight after breaking above one of the key resistance levels that analyst Ali Charts has been monitoring.
Currently, XRP is trading at $1.15, up 3.38% over the last 24 hours. The price recovery comes alongside rising derivatives activity, giving traders a more bullish outlook.
Also Read: XRP Price Analysis: Bulls Gain Ground After Breaking $1.10 Resistance
XRP Rises Above Key Resistance Level
XRP managed to break above the $1.13 resistance level that traders had been carefully watching over the past few days. The price is currently trading between immediate support near $1.10 and the next major resistance around $1.30.
If XRP continues to hold above this breakout level, the bullish trend could extend. A move back below $1.13 would weaken the current bullish outlook.
XRP Price TradingView Analysis Indicates Buyers Are Returning
The daily TradingView chart indicates that XRP is trading at about $1.15 after bouncing back from its early June decline.
During the recent rally, volume rose, pointing to greater market participation than during the previous sideways period. Simultaneously, the On-Balance Volume (OBV) turned slightly higher after a long decline, suggesting buying pressure is gradually improving.
Although the recovery of OBV supports the price advance, the indicator has not yet returned to its previous peaks, implying that stronger buying demand is still needed to confirm a broader trend reversal.
The chart indicates support near $1.10 while the next resistance appears around $1.19 before the higher target discussed by traders.
Also Read: XRP Price Eyes Key Breakout as $1.13 Resistance Nears
XRP Price Benefits From Ali Charts’ Breakout Call
The analyst Ali Charts shared an XRP one-hour chart with the words “BREAKOUT CONFIRMED!” and added that “XRP has cleared resistance, putting the next major target at $1.30.”
This breakout matters because Ali Charts had previously identified $1.13 as the key resistance level to watch. The price has since moved above that level, which aligns with the TradingView chart showing improving momentum.
Traders may view the breakout as confirmation that buyers are regaining control, although sustained buying interest is still needed to maintain the move toward $1.30.
XRP Price Derivatives Data Highlights Increased Activity
CoinGlass data reveals that XRP’s open interest has reached approximately $2.6 billion, increasing along with the recent price recovery.
As a rule of thumb, higher open interest generally signifies an influx of capital into the derivatives market. Liquidation data also reveals both long and short positions have recently been liquidated, indicating that traders are actively repositioning following the breakout.
An increase in activity can lead to stronger price movements but also raise short-term volatility.
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What to Watch Next for XRP Price
The technical picture is improving, with XRP trading above its recent breakout level. Volume and OBV suggest buyers are returning, though confirmation depends on whether the price holds above support.
The breakout highlighted by Ali Charts is also supported by rising open interest, showing that traders are becoming more active as momentum builds.
A sustained move above current resistance levels would keep the $1.30 target in focus. A move below the $1.13 mark, followed by weakness below $1.10, would invalidate much of the current bullish setup.
The cryptocurrency market remains highly volatile, so traders should continue monitoring price action, trading volume, open interest, and broader market sentiment before making investment decisions.
Also Read: XRP Price Flashes Historic Bullish Signal With $27 Target in Focus
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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