After years of anticipation, XRP price has finally broken above $3 amid a massive run that began last week.

XRP has been nothing short of extraordinary over the last three months. Its upward trend began in the wake of Donald Trump’s election victory last November and enabled a 480% increase from a low of $0.50 to a seven-year high of $2.9 on December 3, 2024.

XRP price finally recovers from $3

Despite the uptrend, XRP faced resistance at the psychologically relevant price level of $3 after conquering $1 and $2 at once. This hurdle led to a pullback and subsequent consolidation. But after six weeks of fluctuating price movements, XRP has finally reached the $3 mark.

This was the first time the crypto asset broke the $3 mark since abandoning it during a correction in early 2018. For comparison: XRP price experienced an impressive rally from March 2017 to January 2018, reaching an all-time high of $3.31 before facing a massive correction and falling below $3.

Since then, despite occasional surges in 2021, the asset has failed to recapture the $3 mark. The latest performance sparked excitement in the XRP community, including prominent FOX Business reporter Eleanor Terrett attract attention about this in an X post minutes ago.

What happens next from here?

Data from a daily chart shows that this success is due to an impressive 11.4% increase that XRP recorded today. The altcoin is currently building on bullish momentum that began over the weekend and resulted in its first price increase of 10% on Saturday, January 11th.

Despite a 2.81% decline on Sunday, XRP price started the new week with renewed strength and is now hoping to record its third consecutive day of intraday gains. Today, the asset rose to a new seven-year high of $3.02 on Bitstamp US CPI data releasebefore encountering resistance that triggered a slight decline.

XRP is currently changing hands at $2.97, up 15.54% in the last 24 hours. This makes it the highest 24-hour gainer among the top 10 assets and the fifth highest gainer among the top 100. Bulls are now trying to make another push to clear the $3 mark, but the commodity’s values Channel index at 236 indicates the market may be overextended.

At this point, XRP price could face a sharper decline towards the $2.5 support if demand does not increase above current levels. Below this, the next support lies at the $2.48 price level, which is in line with the Fib. 78.6% expansion. Above, XRP could target $3.7 (Fibonacci 1.272) with the bulls Capture $3 and establish it as support in the next few days.