XRP is trading just below the critical $2 mark, a level that served as a local top during the 2021 bull cycle. The price has been steadily rising due to the bullish momentum and looks poised to continue rising. Investors and analysts are watching the charts closely for a clear signal confirming a breakout above this key resistance.

This psychological price level is a key focus for market participants, with a successful break potentially marking the start of a sustained rally. Top analyst and investor Dark Defender has commented on the outlook for XRP and published a detailed technical analysis on X. According to his findings, XRP is expected to reach $2.13 in the coming days before a short correction occurs. Dark Defender also expects further price increases following this decline as XRP continues to attract bullish sentiment.

A confirmed breakout above $2 could pave the way for new multi-year highs, while failure of this level could lead to short-term volatility. Given its historical significance and current market dynamics, the $2 mark represents both an opportunity and a challenge for XRP. All eyes are now on whether the token can recapture this milestone and chart a path higher.

XRP attracts new demand

XRP is up over 50% this week, benefiting from a wave of new demand that continues to push the price towards new supply levels. The bullish momentum has sparked a lot of interest among investors and analysts, with many speculating about the token’s next move.

Top analyst and investor Dark Defender shared detailed technical analysis on X and highlighted XRP’s evolving market structure on the 4-hour chart. According to his findings, XRP is likely to reach $2.13 soon before a possible correction occurs.

Dark Defender’s analysis also identifies key resistance levels on the 4-hour timeframe. Notably, resistance at $4.11 and $6.42 aligns with its secondary price target of $5.85, which follows a retest of support at $1.88. These levels suggest a roadmap for XRP price action if the current rally maintains its momentum.

As XRP approaches these critical price zones, the coming weeks will be crucial in determining its trajectory. While bullish sentiment prevails, the possibility of corrections or consolidations remains. A decisive break above $2.13 could open the door to new highs, but failure to hold key levels could result in short-term volatility.

The impressive performance and growing demand make XRP one of the most watched assets in the crypto market currently.

Reaching multi-year highs

XRP is currently trading at $1.88 after posting an impressive rise since November 5th, a staggering 285% increase in less than 30 days. The price recently reached $1.95, a critical level, and has since entered a consolidation phase as it gains momentum and breaks the crucial $2 mark. This consolidation suggests that XRP is creating the fuel it needs for an eventual breakout.

Price action remains decidedly bullish, supported by strong market sentiment and increasing demand. Analysts are closely watching the peak of the cycle at $1.97 as a break through this level would likely signal the start of a new bullish move. A confirmed breakout above $1.97 would not only reinforce the bullish structure but could also push XRP to uncharted highs, consistent with parabolic rally predictions.

However, consolidation near these levels suggests that XRP faces temporary resistance. Market participants are now paying attention to key support zones to ensure that the current bullish momentum remains intact. If bullish pressure continues, XRP’s next targets could quickly surpass historical levels and solidify its position as one of the leading assets in the crypto space. For now, XRP remains a focus for traders and investors as it approaches the $2 threshold.

Featured image by Dall-E, chart by TradingView