XRP surges 10%, outpacing top coins – What’s driving the rally? – BitRss

• XRP’s bullish pennant and breakout signaled traders’ confidence toward a potential $3 target.
• Network activity hit 26,144 daily addresses, reinforcing adoption and sustaining upward momentum.

Ripple [XRP] has captured attention with a 10.72% surge in the last 24 hours, climbing to $2.37 at press time. This impressive rally highlighted its strong upward momentum compared to major cryptocurrencies. 

Factors like increasing daily active addresses, a rising MVRV ratio, and bullish technical indicators further strengthened its position as one of the top-performing assets in the market.

Breaking through resistance

XRP’s price movement reflected robust bullish sentiment. The price recently broke out from a consolidation phase, surging above the $2.30 resistance level. 

The formation of a bullish pennant flag pattern also suggested the potential for more gains ahead. Therefore, the $3 target depends on a successful breach of the $2.59 resistance level.