Crypto prices today reflect a market gaining momentum following Federal Reserve Chair Jerome Powell’s dovish comments at the Jackson Hole Economic Symposium, which hinted at a slower pace of interest rate hikes. Ethereum led the charge, breaking past its previous record to hit a new all-time high of $4,884 with double-digit gains. Bitcoin also saw notable gains, rising 4.2% to $117,377 amid increased institutional interest and renewed enthusiasm from retail buyers.
Meanwhile, XRP has been navigating a more complex landscape. XRP price today rose slightly to $3.10. The market shows a tug of war between post-Fed optimism, which has lifted the broader cryptocurrency market, and the lingering legal challenges. Traders are closely watching critical levels, with $2.80 acting as a support zone and $3.21 identified as the next resistance level to break.
According to prominent analyst CasiTrades, despite XRP’s dip below consolidation, the market quickly regained momentum as buyers stepped in with force, signaling strong underlying demand. Bullish divergences also remained intact, indicating that selling pressure was weakening. This suggests that XRP could be poised for further upside if broader market conditions remain favorable.
When Will XRP Reach Its All-Time High?
An analyst explained that the recent price dip in XRP has triggered a reset in its price mapping, altering the short-term resistance targets. Previously, the next resistance level was set at $3.41, but with the price movement caused by the dip, the focus has now shifted to $3.21 as the immediate target.
The analyst highlighted that momentum in XRP’s price action is currently very strong, suggesting that the $3.21 level may only result in a minor reaction before the price continues to climb. This level is now expected to act more as a temporary pause rather than a significant barrier or ceiling for further growth.
Additionally, the analyst noted that as part of this upward movement, XRP could also revisit $3.168, which represents the top of its recent consolidation range. This potential test could provide further confirmation of the strength of the current momentum. If XRP successfully moves past these levels, it could pave the way for a bullish rally, potentially positioning itself for a renewed push toward the original $3.41 resistance target and beyond.
Taking a broader view, the analyst highlighted that the recent developments align seamlessly with XRP’s overall macro trend, which continues to point toward new highs. Retracements are expected to remain shallow, with potential pullbacks mapped in the 0.118–0.236 Fibonacci range. However, these dips are seen as minor obstacles rather than significant reversals.
Once XRP turns $3.21 into a support level, the path to higher resistance zones and eventual new highs becomes much clearer. The analyst emphasized that this bullish setup is in sync with the broader altcoin market, which is also gaining momentum. For XRP, reclaiming $3.21 could pave the way for a push to $3.41 and beyond, with long-term prospects still aimed at achieving new highs.
Also Read: Is Shiba Inu (SHIB) Still the “Millionaire-Maker” Coin?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
