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The price movement of XRP has once again caught the market's attention. With the conclusion of the legal disputes, favourable information spread rapidly, and XRP's price soared like a rocket ready to launch, leaving a striking rise trajectory.
This trend not only validates previous market expectations but also highlights the cryptocurrency market's sensitive response to positive news. Currently, XRP's price has steadily risen above 3.0, with market sentiment high and a large influx of funds driving the price upward.
From a technical perspective, the main resistance level that XRP currently faces is around 3.45. This price level has been challenged multiple times, forming a fairly strong pressure. On the downside, the integer level of 3.25 has turned into important support. If it can hold steady here, it will lay the foundation for future rise.
Considering the significant Favourable Information brought by this legal victory and the continued influx of funds, XRP is likely to continue its rise in the short term. If it can strongly break through the resistance at 3.45, the next target price may be around the high point of 3.66. However, the market is ever-changing, and if a large-scale sell-off occurs leading to a price drop below the support level of 3.25, it may also trigger a certain degree of correction.
Market analysts expect that XRP may experience consolidation around 3.3 in the short term, before determining its next direction. If more favourable information emerges in the future, the possibility of a breakout upward will significantly increase.
For investors, the current strategy suggestion is: if the price retraces to around 3.25 and shows signs of stabilization, it may be worth considering a moderate buy; if the price effectively breaks through 3.45, one can follow up with a small position. At the same time, it is crucial to closely follow changes in market news and capital flow.
It is worth noting that the cryptocurrency market is highly volatile, and investors should act cautiously and manage risks effectively. With the legal obstacles for XRP being cleared, its future development is promising, but it is also necessary to continue to follow changes in the regulatory environment and their potential impact on the market.