XRP Surpasses 2.20 USD, New All-Time High Just 42% Away

The cryptocurrency market has witnessed bullish momentum in recent days, and XRP is no exception. This popular altcoin has now surpassed the $2.20 mark and is only 42% away from its all-time high of $3.84, which is (ATH). The question now is: Can XRP maintain this pace, or is a pullback imminent? XRP Bounces Strongly From Major Support Level After a period of sluggish price action, XRP has recently seen a strong recovery from the key support zone between $1.92 and $1.95. This move is driven by improved sentiment across the cryptocurrency market in general, especially as Bitcoin and Ethereum shift to a bullish trend in the short term. The range $2.19 to $2.20 acts as a stubborn resistance level in recent sessions. Now that XRP has surpassed this area, it is likely to transition to a new support zone, providing buyers with a solid foundation to aim for higher targets. Next Main Target: $2.30 to $2.35 The next important resistance level is between $2.30 and $2.35. If XRP can surpass this barrier, it will pave the way to return to May's high of around $2.66 and get closer to the $3 mark in the coming weeks. Despite this promising breakthrough, the broader trend of XRP on the daily chart still shows a lower high and a lower low pattern, a classic sign of an ongoing bearish trend. To truly confirm the return to a bullish structure, XRP will need to consistently reach higher peaks, starting with a decisive move above the resistance level of $2.35. Short-Term Outlook: Bullish, But Pay Attention to Levels The recent bullish move from the low on June 22 has shown a promising three-wave structure in the upward direction. Although this is very encouraging, analysts warn that there is still a possibility of another drop, especially if the price cannot hold above the support area of $2.08. A clean five-wave impulse move, often signaling a stronger and more sustainable bullish trend, is what experts hope to see next. If that happens, XRP could quickly rise to the level of 2.29 to 2.32 dollars.