XRP Ready to Break Out? Key Resistance Level Under Watch

XRP is back in focus after printing a bullish weekly candle. At the time of writing, the token trades at $2.62 with a 24-hour volume of $4 billion. It is down slightly on the day but has gained over 5% in the past week.

Meanwhile, the market is watching the $2.70 level, which has acted as a major resistance area.

Weekly Candle Shows Bullish Reversal Pattern

The weekly chart has formed a bullish engulfing candle. This pattern tends to appear after downtrends and suggests that buyers are stepping in. The candle covers the body of the previous red candle entirely, signaling a momentum shift.

Notably, the focus now is $2.70. A clean break and hold above that level may confirm bullish strength. ChartNerd said,

$XRP has printed a weekly bullish close with an engulfing candle Read Original