XRP (XRP/USDT) is trading around $3.00, managing to stay above a vital support zone between $2.85 and $2.90 after a sharp breakout earlier this quarter. Despite facing rejection near the $3.40–$3.60 resistance levels, the asset continues to show resilience as buyers defend the lower range.
The 4-hour chart indicates that XRP successfully broke free from a descending channel pattern that had capped its price throughout May and June. The breakout fueled a surge of over 30%, lifting the token toward the $3.60 zone before profit-taking set in.
Currently, $2.85 remains a critical support base, while $3.20 stands out as the next immediate resistance. A close above this threshold could trigger another rally toward $3.40.
BITX technical analyst explained, “XRP has shifted from a bearish channel to a bullish consolidation. As long as it stays above $2.85, the broader structure supports another attempt to retest higher resistance levels.”
Trading volume has moderated compared to the breakout phase, signaling a period of accumulation and consolidation. Analysts suggest that bulls may be waiting for a catalyst to push prices higher, particularly as global markets remain cautious ahead of upcoming macroeconomic data.
According to BITX strategists, “If XRP closes several sessions above $3.20, it would confirm bullish continuation. However, failure to hold $2.85 could reopen downside risks toward $2.50.”
The near-term trajectory hinges on whether bulls can break above the $3.20 resistance band. Sustained strength above this level could set the stage for a retest of the $3.40–$3.60 supply zone, where heavy selling pressure previously capped gains.
On the flip side, a dip below $2.85 may weaken momentum, exposing XRP to lower support zones. For now, XRP’s consolidation above $3 reflects strength, but the next decisive move will determine its medium-term trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.