🚨XRP price exhibits short-term bullish outlook 🔹Ripple (XRP) price gains bullish momentum above $3.12 on Thursday, underpinned by the United States (US) Federal Reserve's (Fed) 25-basis-point interest rate cut on Wednesday. 🔹The widely anticipated interest rate cut broadly improved risk-on sentiment, but what caught the attention of investors was the dot plot, which showed that most Fed policymakers expect a rate cut at each of the remaining meetings this year. 🔹XRP exhibits a short-term bullish outlook, with bulls eyeing a breakout toward its record high of $3.66, reached on July 18. Technical Analysis 🧧 👉🏻XRP remains above $3.12 at the time of writing on Thursday, supported by a strong technical structure. The dovish macro outlook presented by the Fed on Wednesday has led to an improvement in risk-on sentiment, resulting in steady demand for XRP. 👉🏻Bulls have the upper hand based on the position of the Relative Strength Index (RSI) at 60 and rising. Higher RSI readings approaching overbought territory would indicate growth in bullish momentum, as bulls look toward the record high of $3.66. 👉🏻Key areas of interest for traders are the short-term hurdle at $3.18, which was previously tested on Saturday, the supply area around $3.35, tested in mid-August and the record high of $3.66. On the other hand, if profit-taking takes centre stage, price corrections would meet support provided by the 50-day Exponential Moving Average (EMA) at $2.95 and the 100-day EMA at $2.82. #XRP#