XRP has surged nearly 2% in a day, aligning with the broader market recovery. This rebound follows the completion of a correction phase, with technical indicators suggesting a potential bullish breakout.
Despite the short-term gains, XRP remains under pressure. As of press time, the token was trading at $2.17, with a 12% decline over the past week and an almost 10% drop on the monthly time frame. However, technical indicators and institutional interest are fueling optimism for a potential reversal.
XRP one-day price chart. Source: Finbold
XRP’s path to a breakout
According to analyst DarkDefender, XRP has finalized its correction on the four-hour timeframe, hinting at a potential shift in momentum. On the daily chart, the asset is showing signs of recovery, with key indicators pointing toward a possible trend reversal.
XRP price analysis chart. Source: DarkDefender/X
Notably, XRP has successfully broken above a crucial resistance, hinting at a bullish momentum. However
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