After a 6% intraday swing, XRP finds solid footing at the $2.40–$2.42 support area as traders anticipate a potential rebound toward $2.65.
XRP is holding above the $2.40 base following a volatile 6% price swing earlier this week. Despite heightened market uncertainty, buyers have stepped in to defend the key support area, indicating potential accumulation ahead of a possible rebound. The token’s price structure shows consolidation above this level, while analysts are eyeing the $2.65 zone as the next breakout target.
The daily chart reveals that XRP recently retested a major demand zone between $2.40 and $2.42, where strong buying momentum emerged after a sharp downward wick. This green support block coincides with a previous breakout area from July, marking it as a historically significant price floor.
“As long as XRP remains above $2.40, the short-term outlook stays constructive,” said BITX crypto market strategist. “The $2.65 level is a crucial barrier — a daily close above it could signal the start of a fresh leg toward $2.90.”
The upper resistance zone near $2.95–$3.10, highlighted in red on the chart, represents the next key hurdle where sellers previously regained control. A sustained move above this level could open the path toward $3.30, aligning with XRP’s August highs.
On the downside, analysts warn that a break below $2.35 could trigger a deeper correction, potentially revisiting $2.10 or even $1.95. However, the strong defense of current support levels and healthy trading volume suggest buyers remain active.
Market participants are cautiously optimistic. “We’re seeing renewed confidence in XRP’s mid-term structure,” According to BITX analyst. “Volatility has returned, but the response from buyers at the $2.40 zone is encouraging.”
Overall, XRP’s price action signals a battle between short-term profit-taking and long-term accumulation. If bulls manage to reclaim the $2.65 resistance, it could mark the beginning of a broader recovery phase heading into late Q4.
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.