- Ripple’s price rebound from $2.64 confirms a strong bullish market structure, supporting further price gains.
- XRP’s recovery signals that it is on track for a breakout toward the $4.80 Fibonacci extension target.
- Ripple’s expansion of its Ripple USD stablecoin to African institutions highlights its growing global presence.
Ripple’s (XRP) price has made a strong recovery after bouncing from a critical support level at $2.64. This support zone is a key confluence of technical indicators, including the 0.618 Fibonacci retracement, lower Bollinger Band, and the value area high, which have helped reinforce the bullish momentum. Following this rebound, XRP now looks poised for further upside, with analysts targeting a move towards the all-time high and the next Fibonacci extension level of $4.80.
The $2.64 level has proven to be a critical support zone for XRP. The alignment of the Fibonacci retracement, the lower Bollinger Band, and the value area high has created one of the strongest technical confluence zones seen in recent months. This rebound has not only confirmed the demand at this price point but also strengthened the ongoing bullish narrative for Ripple. With each bounce from this level, XRP is solidifying its market structure, which is now marked by consecutive higher highs and higher lows.
Market Structure Confirms Bullish Trend
XRP’s recovery from $2.64 confirms that the asset is still in a strong uptrend. The most recent bounce adds another higher low to the pattern, supporting the view that the bullish trend remains intact despite earlier corrective pressures. This continuation of the bullish market structure lays a solid foundation for the next phase of price action, with many expecting XRP to push further upwards toward the $4.80 target.
With the $2.64 support holding firm, the immediate target for XRP’s price action is $4.80. Fibonacci extension projections suggest that this price point is the next significant milestone. A break above this level would position XRP for a breakout into uncharted price territory. However, the volume profile remains a key factor in sustaining momentum. Although there are early signs of bullish inflows, maintaining strong buying pressure will be crucial for XRP to continue its ascent.
Ripple’s global expansion continues as it rolls out its Ripple USD stablecoin to institutional clients in Africa. This move not only adds to Ripple’s growing international presence but also underscores its commitment to enhancing its blockchain network and expanding its services worldwide.
Ripple’s price rebound from $2.64 indicates that XRP remains on track for further price gains. As long as support holds at this level, XRP is likely to maintain its bullish trend and could soon approach the $4.80 extension target. However, the key to sustaining this upward movement will be continued volume and demand, which will support the next leg of the rally.
