XRP Briefly Overtakes Tether to Become 3rd Largest Cryptocurrency

XRP made headlines in the crypto market after briefly overtaking Tether to become the third-largest cryptocurrency by market value. The price of XRP climbed back above $2.61 for the first time since March 6th, marking a strong recovery for the digital asset. However, at the time of writing, XRP has slipped back to the fourth position.

At the same time, market experts have noticed a positive change in XRP’s price charts. Over the past few months, XRP’s price was affected by a bearish divergence, which kept its growth limited. But in recent days, this pattern seems to have ended. 

The 3-day Relative Strength Index (RSI) for XRP has now moved above its previous levels, suggesting that the coin is gaining strength and could continue moving upwards.

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XRP Price Analysis: Signs of a Bullish Breakout

On the daily chart, XRP is trying to break above a key resistance level around $2.45 to $2.46. However, to confirm a breakout, it needs to close a daily candle above this line. If it succeeds and manages to cross above $2.58 to $2.59, it could mean a major bullish trend. 

If that happens, XRP might not only rise in the short term but could also continue to perform well over the next few weeks or even months. On its way up, the price could face some hurdles around levels like $2.77, $2.95, $3.15, and $3.30.

$5 In Sight?

Some analysts suggest we may already be in a direct bullish phase, with the price aiming straight toward the $5 mark. Either way, as long as support holds, the focus remains on higher prices. In the short term, XRP may continue to stretch upward, with a new micro target zone set between $2.77 and $2.97. This could mark the next area of interest for traders looking for bullish confirmation.

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