Technical Outlook: XRP bull breakout above $3.00

XRP has shown new strong momentum after staying above the 50-day exponential moving average, currently set at $2.92, which indicates an intraday increase of over 3-4% on Thursday.
📊 Momentum Indicator
The Relative Strength Index ( RSI ) has risen to 57, indicating weakened selling pressure and increased bull market momentum.
The Moving Average Convergence Divergence Indicator ( MACD ) is still in buy mode after the bull market crossover on Wednesday, further validating buyers' interest.
📈 Price Structure
Since mid-July, when XRP reached a historical high of $3.66, the asset has been in a broader downtrend. A breakout on the daily chart above the descending trendline could signal a significant shift in sentiment and confirm the beginning of a bull market reversal.
⚠️ Key levels to watch
Upside target: $3.00 psychological level, secondary resistance at $3.17, supply may slow down momentum.
Downside risk: If profit-taking occurs, traders will focus on the 50-day exponential moving average ($2.92–2.93 and the 100-day exponential moving average )$2.84 to look for potential support.
🔎 Prospect
XRP bull remains cautiously optimistic. Sustained buying pressure could pave the way for a breakout above $3.00, but the market must overcome the hurdle of profit-taking to confirm a broader upward trend.
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