XRP Breakout Looms as Price Surges to $1.48

XRP's recent price surge has brought it back to a critical breakout level after an impressive 8% daily gain. The cryptocurrency is now approaching its upper boundary of a declining structure, where a confirmed breakout could shift momentum in favor of buyers.

According to the daily chart, XRP continues to recover from its sharp August rally and subsequent consolidation. It's currently trading around $1.48, comfortably above its major moving averages. The recent correction found support near the 200-day moving average at $1.27-$1.28, where buyers responded aggressively and pushed XRP back toward its upper range.

However, the major overhead supply zone remains higher at $1.61-$1.70, marking a key resistance area that buyers would need to reclaim before a broader bullish continuation becomes convincing. For now, holding above the $1.27-$1.30 region keeps the larger recovery structure intact.