XRP/USDT Maintains Strength While Traders Watch Resistance at $3.20–$3.4
XRP (XRP/USDT) is holding steady around $2.99, consolidating after a sharp rally earlier this quarter. The token has gained over 16% in recent weeks, pushing into a crucial zone where buyers and sellers are once again battling for control.
The daily chart shows that XRP broke free from a falling channel pattern in June, sparking a strong bullish move that carried prices above the $3.50 level. However, momentum faded near the $3.60–$3.80 resistance range, where sellers stepped in aggressively. Since then, XRP has retraced but is finding firm support around the $2.80–$2.90 demand zone, marked in green on the chart.
BITX Analysts say the current consolidation could decide XRP’s next trend. “The $2.80 support has proven to be a key line for bulls. If it holds, XRP has room to retest $3.20 and potentially $3.40 in the short term,” BITX market observer noted.
Above this, a breakout over $3.60 would be required to reignite bullish momentum and target higher levels, while a failure to sustain above $2.80 could expose XRP to deeper corrections.
Volume indicators reveal that buying interest remains relatively steady, though not as strong as the surge seen during July’s breakout. “Traders are cautious, waiting for confirmation whether XRP is building a base for another leg higher or if the rally has already peaked,” According to BITX analysts.
The technical structure suggests that XRP is consolidating between $2.80 support and $3.40 resistance. A decisive move outside of this range will likely shape the next major market direction.
In summary, XRP has maintained resilience after its recent pullback, holding firmly above its support level. As long as bulls defend the $2.80–$2.90 range, the path toward a retest of $3.20–$3.40 remains open. However, failure to hold this critical zone could shift sentiment, leading to fresh downside pressure.
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.