XRP price surged past the critical $1.40 resistance level during Wednesday trading, touching a high of $1.45 as bullish momentum returned to the cryptocurrency market. The move was fueled by a broader improvement in risk appetite, supported by falling oil prices and easing geopolitical concerns in the Middle East. At press time, XRP was trading near $1.44, consolidating above the former resistance zone after a brief dip from its daily peak.
On the daily chart, XRP appears to be approaching a breakout from a descending trendline that has resisted price advances since early February. The token has reclaimed the key 2/8 Murrey Math level at $1.36 and is now testing the 3/8 trading range near $1.46. Additionally, XRP continues to trade within a symmetrical triangle pattern, which typically signals an impending directional move after a period of consolidation.
Technical indicators are turning increasingly bullish. The MACD has formed a positive crossover, while the Supertrend remains green, suggesting that buying pressure is likely to strengthen. Since early April, XRP has been forming a series of higher lows, indicating an improving market structure. If the price can sustain a breakout above the descending trendline and the upper triangle boundary, the next major target is around $1.66, according to the 5/8 Murrey Math level. A continued rally could then push XRP toward the $1.95 to $2 region, which corresponds to the ultimate resistance zone.
However, there are downside risks if XRP fails to hold above the breakout area. A rejection could lead to a retest of support at $1.36, and a deeper correction might expose the $1.27 level. Overall, the short-term outlook is positive, but traders should monitor the key resistance levels closely.