XRP price surges to $1.28 with 8 percent rally

XRP climbed back to $1.28 for the first time in nearly two weeks after an 8 percent daily rally. Experts credited this move to easing geopolitical tensions between the US and Iran, which reduced market uncertainty and bolstered risk appetite among investors.Major investors keep accumulating XRPTechnical resistance levels draw attentionAnalysts eye the $1.94 markShort-term indicators point to recovery Major investors keep accumulating XRPThe momentum was not limited to general market sentiment. On-chain data revealed that large XRP holders continued to accumulate during the most recent downturn. Wallets holding at least 1 million XRP now control about 74.1 percent of circulating supply, with this group adding 1.53 billion XRP over the past six months.This trend is seen as a sign that major investors remain optimistic about Ripple’s ecosystem in the long term. Ripple stands out as a financial technology firm known for its cross-border payment infrastructure and tokenization projects built on the XRP Ledger.Large wallets maintaining their buying activity throughout the recent pullback has strengthened expectations that the current rebound in XRP is not merely a short-term reaction.Market watchers noted that the simultaneous relaxation of macroeconomic pressures and renewed demand from major investors set the stage for the recent upward move. Technical resistance levels draw attentionOn the technical side, analysts report that XRP broke through several short-term resistance levels, confirming a breakout on the chart. The asset is now testing the 200-period exponential moving average (EMA) on the four-hour timeframe—a key support and resistance zone closely monitored by traders.A longstanding downward trendline remains the main obstacle to further gains. Should the price hold above this trendline, higher resistance targets could come back into focus for the market.Glossary: Elliott Wave analysis is a technical method that aims to explain price action through wave patterns tied to investor psychology. EMA stands for exponential moving average and tracks short-term trends by giving more weight to recent prices.IndicatorLevelMeaningCurrent price$1.28Highest point in two weeks200-period EMAApproximately $1.24Critical short-term technical thresholdIntermediate resistance$1.61Next key region to watchUpper target$1.94Area analysts are monitoring for a retestAnalysts eye the $1.94 markSeveral analysts suggest that the corrective structure might be complete based on Elliott Wave analysis. The upside breakout from the wedge pattern, zeroed-out momentum indicators, and persistent demand all signal potential for a fresh upward wave.Analysis indicates $1.61 is the key intermediate resistance, and if current momentum continues, the $1.94 level could be retested soon.While some forecast a broader target at $4.47, they caution that several resistance levels must be overcome on the way. For the short term, whether XRP can hold above $1.50 and maintain support at around $1.21 is being closely watched.Short-term indicators point to recoveryAs of the review, XRP traded at around $1.28, up nearly 8 percent on the day. The Relative Strength Index (RSI) stood at 56.14, below the overbought zone. The stochastic %K measure registered 58.94, while the Commodity Channel Index (CCI) came in at 40.33, all of which signal bullish momentum without market overheating.The Average Directional Index (ADX) posted a reading of 34.25, indicating a buy signal. Though the MACD remained slightly negative, it showed a bullish bias overall. TradingView’s summary highlighted 11 buy, 9 neutral, and 6 sell signals. Meanwhile, longer-term moving averages identify the $1.35 to $1.58 band as a persistent resistance region.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.