XRP’s 9% Rebound Is Just the Beginning… $2 Recovery Scenario in Play

▲ XRP (XRP) / ChatGPT-generated image

XRP has recently staged a strong rebound of nearly 9%, reclaiming the $1.40 level, as market attention turns to whether it can overcome key technical hurdles and resistance levels to capture the $2 mark.

According to crypto media outlet The Crypto Basic on February 26 (local time), XRP surged 9% in a single day in tandem with Bitcoin’s recovery, successfully offsetting prior losses. The rebound came after confirming strong support around $1.35, and XRP is now attempting to stabilize above $1.40. Market analysts note that to surpass the psychological barrier of $2, XRP must first break through heavy sell walls positioned at $1.60 and $1.80.

Technical indicators are sending positive signals. The Relative Strength Index (RSI) shows ample room for further gains before entering overbought territory, while the Moving Average Convergence Divergence (MACD) has formed a bullish crossover, suggesting strengthening upward momentum. Notably, Santiment data indicates that large whales accumulated significant holdings during the recent correction, reinforcing downside support. Such accumulation by whales lays a strong foundation for a potential price breakout.

Institutional capital inflows are also supporting the uptrend. Ripple’s ongoing business expansions and progress on the U.S. crypto market structure bill (CLARITY) are easing regulatory uncertainties and stimulating institutional buying. Rising open interest further indicates that market participants are taking aggressive positions betting on price appreciation. Strength in both the spot and futures markets increases the likelihood of reclaiming the $2 level.

However, sustained support from Bitcoin is a prerequisite for XRP to firmly establish itself at $2. If Bitcoin faces resistance at the $70,000 level and experiences a sharp pullback, XRP could come under renewed downward pressure, potentially retesting support at $1.35. Investors should be cautious of volatility that may arise from short-term profit-taking, as price increases not accompanied by strong trading volume risk being temporary. Close monitoring of volume changes at key resistance levels is essential.

Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from reliance on it. The content should be interpreted for informational purposes only.