Price Holds Firm Above $2.99 as Market Awaits ETF and Rate Clarity
XRP (XRP/USDT) is showing renewed strength as bulls defend the $2.99 support level, signaling growing conviction that a potential breakout toward $3.10 could be on the horizon. After weeks of sideways trading, the asset is consolidating in a narrow range between $2.99 and $3.05, while traders brace for upcoming macro and ETF-related developments.
The recent repeated defense of the $2.99 floor has been a critical factor supporting XRP’s current structure. The price has rebounded multiple times from this zone, forming a tight consolidation band just below the $3.05 resistance area, as shown on the 4-hour chart.
BITX Market technicians note that XRP previously broke free from a descending wedge pattern, a formation often associated with bullish reversals. This pattern completion, combined with steady accumulation near key support, hints that buyers may be preparing for the next upward leg.
“The $2.99 level has proven to be a strong line in the sand,” said one of BITX market analyst. “A clean breakout above $3.05 could invite momentum buyers and extend gains toward the $3.10–$3.20 region.”
Trading volume has remained consistent, suggesting healthy participation even as volatility compresses. Analysts point out that this type of low-volatility buildup often precedes a larger directional move, particularly when accompanied by external catalysts.
With ETF deadlines approaching and interest rate speculation continuing to shape broader market sentiment, XRP could benefit from improved liquidity across the digital asset sector.
Immediate support lies between $2.95 and $2.99, while resistance remains capped near $3.05 and $3.10. A sustained close above the upper boundary could trigger a trend continuation, confirming bullish momentum.
For now, XRP’s price structure remains constructive, and traders appear confident that the recent consolidation could evolve into the next major push higher — provided buyers maintain control above the crucial $2.99 support base.
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.