- XRP rises to $1.36 on share expectations and CEO comments.
- A technical break supported by over-the-counter products and increased power.
- The main levels to watch are support at $1.33 and resistance at $1.40.
XRP has seen a major rally in the past 24 hours, rising to $1.36 and the best performance of the main market.
The rally appears to be driven by a combination of technical support and renewed confidence from institutional investors.
In the last 24 hours, the volume of sales has increased by almost 50%, indicating that buyers will enter after the recent sales.
Ripple’s CEO’s comment sparks hope
The reason for these price changes is a recent comment from the CEO of Ripple, Brad Garlinghouse.
In a March 27 Fox interviewGarlinghouse highlighted the growing demand for digital assets and stablecoins from traditional financial institutions.
He emphasized that the crypto space is maturing, with many banks and investment companies considering the digital economy as part of their portfolio.
Garlinghouse also emphasized legislative progress, particularly with regard to the pending CLARITY Act.
The CEO pointed out that the act could provide clear guidelines for crypto services, fostering confidence among participants.
The combination of legal clarity and increased interest from the financial industry has sent a strong signal to traders.
Market participants seem to be reacting, interpreting the announcement as confirmation that XRP is in a legitimate place in the traditional financial community.
Reports of major XRP companies, such as the exposure of Goldman Sachs through XRP ETFs, have also boosted the historical record.
Technical support helps make the jump
Along with these important drivers, XRP’s technical indicators also support the recent expansion.
The 14-day Relative Strength Index (RSI) fell to 44, indicating that the stock is approaching an oversold zone, which has created difficulties as selling slows down and buyers re-enter the market.
In addition, the price of XRP got a bit of a bump from the small recovery in the main crypto market.
Although the market as a whole was defeated, it helped to push XRP to a higher level.
XRP Long Term Predictions
For traders looking at the current market, $1.33 remains a supportive area.
Staying above this support will be important in any attempt to test higher levels.
When there is a further uptrend and XRP breaks above $1.40, examiners believe that the altcoin may see buying pressure and extend the recent rally.
Another notable level that traders should look at is $1.45, which has been the ceiling for the past week.
Development beyond this level can open the door to meaningful growth.
However, a failure to hold $1.33 could lead to a pullback to $1.30, where buyers would re-enter.
In particular, legislative changes, particularly the progress of the CLARITY Act, will be of great help in the coming weeks.
Positive news could boost institutional participation, while a delay could keep XRP trading between $1.30–$1.40.
