XRP, surge signal after reclaiming support...Will it break $1.35 and hit the $1.6 target?

▲ XRP

XRP has successfully reclaimed the Bollinger Bands support line, signaling the start of a strong upward rally this weekend, aiming to break the $1.35 resistance.

According to a report by cryptocurrency media outlet U.Today on April 11 (local time), the price of XRP has re-established control over a key area of the Bollinger Bands, a technical indicator, sending a strong bullish signal to investors. Recently, despite the overall market volatility, XRP successfully rebounded after confirming support at the lower band, proving that buying pressure is re-emerging. In particular, a "squeeze" phenomenon, where the Bollinger Bands narrow, has been observed, indicating a very high probability of a massive price breakout soon.

The price level that the market is most focused on is $1.35, and whether it breaks through this level is considered a key variable that will determine the magnitude of the rise this weekend. $1.35 has historically acted as strong resistance but has recently shown signs of turning into support, serving as a base for accumulating upward momentum. Technical analysts predict that if XRP forms a stable price range above $1.35, it will quickly rise past $1.46 to reach the $1.60 mark in the short term.

This bullish momentum for XRP is supported not only by technical factors but also by institutional tailwinds such as Japan's reclassification of virtual assets. As Japanese financial authorities move to clearly define cryptocurrencies as financial products, the possibility of Ripple entering the institutional framework has increased. Securing this legal clarity boosts institutional investors' confidence, creating a positive feedback loop that promotes capital inflow into XRP spot ETFs.

With Bitcoin (BTC) stabilizing after securing support around the $70,000 mark, a rotation of capital is observed, with investors shifting their focus to XRP, where yield maximization is possible. The Relative Strength Index (RSI) is gradually rising in the neutral zone, indicating strengthening buying pressure without overheating, which is also positive. Coupled with the continuous decrease in XRP holdings on exchanges, leading to a supply shortage, a perfect environment for an upward breakout has been created.

XRP is establishing a new price range, starting from $1.35. Whether it breaks through the upper Bollinger Band will be a turning point for a long-term rally to reclaim previous all-time highs. Investors are focusing on optimizing their positions in response to increased volatility, while confirming the current support level's stability.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*