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After years of anticipation, XRP price has finally crossed the $3 mark amid a massive upsurge that began last week.
XRP has been nothing short of extraordinary over the past three months. Its uptrend began on the back of the Donald Trump election victory last November, allowing it to soar 480% from a low of $0.50 to a seven-year peak of $2.9 on Dec. 3, 2024.
XRP Price Finally Reclaims $3
Despite the bullish push, XRP faced resistance at the psychologically relevant $3 price mark after conquering $1 and $2 in one fell sweep. This roadblock led to a pullback and subsequent consolidation. However, after six weeks of range-bound price action, XRP has now finally captured $3.
This marked the first time the crypto asset breached the $3 mark since it relinquished it during a correction in early 2018. For context, XRP price witnessed an impressive rally from March 2017 to January 2018, reaching an all-time high of $3.31 before facing a massive correction to drop below $3.
Since then, the asset had failed to reclaim the $3 territory despite occasional pumps in 2021. The recent feat has triggered excitement within the XRP community, with prominent FOX Business reporter Eleanor Terrett calling attention to it in an X post minutes ago.
What Next from Here?
Data from a daily chart indicates that this achievement comes on the back of an impressive 11.4% increase recorded by XRP today. The altcoin is currently building on a bullish momentum that began over the weekend, which saw an initial 10% price surge on Saturday, Jan. 11.
Despite a 2.81% pullback on Sunday, XRP price began the new week with renewed strength, and is now looking to seal a third consecutive day of intraday gains. Today, the asset soared to a new seven-year top of $3.02 on Bitstamp following the U.S. CPI data release, before witnessing resistance that has triggered a mild pullback.
XRP currently changes hands at $2.97, up 15.54% over the past 24 hours. This makes it the highest 24-hour gainer among the top 10 assets and the fifth-highest gainer among the top 100. The bulls are now looking to engineer another push to conquer the $3 mark, but Commodity Channel Index readings at 236 suggest the market might be overextended.
At this point, XRP price might face a more substantial pullback toward the $2.5 support if demand does not surge beyond current levels. Below this, the next support lies at the $2.48 price level, which aligns with the Fib. 78.6% extension. Above, XRP could aim for $3.7 (Fibonacci 1.272) if the bulls conquer $3 and establish it as support in the next few days.