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XRP XRP breaks through key resistance, analysts focus on $2.20 target
XRP, the native token of the Ripple payment network, has risen 9% in the past 24 hours and is currently trading at $1.44. The asset opened at $1.3506 and peaked at $1.4779, facing a major area of resistance that market participants are closely watching.
Analysis of Key Resistance and Support Levels
Well-known digital asset technology analyst CW shared a chart on TradingView that highlights the fact that XRP is close to a significant "Sell Wall." The Order Block (OB) indicator in the chart marks three seller order blocks above the current price and two buyer order blocks below. These order blocks represent concentrated areas of buying and selling interest and often constitute important support or resistance areas for traders and investors.
The seller's order block immediately above the current level of XRP is in the range of US$1.47 to US$1.55, with a volume of 107.69 million and an intensity index of 0.68 times. With the recent rebound of XRP, this area has become the current main resistance level. If XRP fails to break through this level, it faces the risk of falling again.
Below current prices, the most recent buyer's order block is around $1.00, supporting volume of 41.54 million, with an intensity reading of 0.26 times. Despite previous forecasts that prices could fall to $0.65, the level has shown significant resilience and has remained stable for several months. In addition, there are two buyer order blocks located at $0.52 and $0.43 respectively, but XRP has not touched these positions again since 2024.
Mini Dictionary: Order Block (OB) -A technical analysis concept used to identify areas of strong buying or selling in the early period, which traders often use to look for potential support or resistance on candlestick charts.
If resistance breaks through, the upside potential is considerable
CW pointed out that if the current resistance zone can be exceeded, the path for further gains for XRP will become unobstructed, as there are few obstacles between $1.55 and $2.20. The next major seller's order block was at $2.20, with a volume of 114.94 million and an intensity of 0.73 times. The subsequent two seller order blocks were at US$3.10 and US$3.60 respectively, with transaction volumes of 74.19 million and 88.88 million respectively. This gap highlights the importance of the current battle for resistance: a clean breakthrough will provide XRP with sufficient upside until it encounters the next major selling interest point.
If XRP successfully breaks through current resistance, technical indicators show that due to the lack of substantial order block resistance within the range, the road will be largely open until the $2.20 level.
Short-term market dynamics
XRP once fell below the US$1 mark from late July to early August, but rebounded strongly from mid-August and rose by about 50% in just 65 hours. The rise was supported by increased trading volume, and as this upward trend began, the year's largest single-day green volume histogram came into being.
The asset is currently at a critical turning point. If bulls are able to push prices beyond the $1.47 to $1.55 seller order block, the likelihood of testing a higher target will increase significantly. Conversely, a rejection at this level may lead to a pullback towards previously determined support levels.
