XRP Explodes 35% Off $1.80 Floor – Is $10 the Next Target?

XRP just ripped through the charts, posting a blistering 35% surge from its recent support level. The move signals a potential major breakout phase.

The Technical Setup

That $1.80 zone wasn't just a number—it was a line in the sand. Holding there created a springboard for the current rally. Momentum indicators are flashing green, and trading volume spiked, confirming this isn't just a fleeting pump.

The $10 Question

With the dam broken at $1.80, analysts are now eyeing a much more ambitious horizon. The path to $10 is steep, but the current velocity suggests the market is repricing XRP's potential almost overnight. It would require sustained institutional interest and a break from its historical correlation with broader crypto sentiment—something that's never a given in this casino of an asset class.

What's Driving the Charge?

While the charts tell one story, the narrative is equally potent. Every regulatory nod or major partnership rumor gets magnified tenfold in this environment, fueling the fire. The market's betting on utility finally trumping speculation.

The rally's real test comes next. Can it consolidate these gains and build a new, higher floor, or is this another classic crypto pump destined for a sharp reversal? For now, the bulls are firmly in control, dreaming of double-digit valuations while the rest of finance watches, sipping their overpriced coffee and muttering about 'irrational exuberance.'

XRP Consolidation Signals Potential Next Leg

Weekly charts indicate that XRP is currently experiencing a post-rally consolidation pattern, absorbing the total gains made towards the end of 2024. The closing of the weak chart at the rate of $2.13 indicates strong support at key levels. The retracement made is around 78-80% of the final move.

This is supported by the momentum indicators. The RSI is staying in the mid-40s, which is easing back from overbought levels without falling into the oversold region. In addition to this, the histogram of the MACD is becoming smaller, which means that the bearish momentum is slowing down, and a bullish crossover may be impending.