Key support at $2.80 fuels potential rebound in XRP price action
XRP (Ripple) is showing signs of stabilization after a volatile August, with traders closely watching the $2.80 support zone as a critical foundation for the next move. The XRP/USDT chart indicates that price action has rebounded from the green demand block, suggesting buyers are stepping in at lower levels.
At press time, XRP is trading around $2.81, having bounced off last week’s dip. Despite market uncertainty, this level has acted as a short-term floor for bulls attempting to regain momentum.
The first upside barrier sits near $3.00–$3.20, highlighted by a supply zone where sellers previously rejected rallies. A stronger resistance lies around $3.40–$3.60, which has repeatedly capped upside attempts.
“If XRP manages a daily close above $3.20, the technical structure would shift in favor of the bulls, opening the path to retest $3.60,” noted BITX crypto market strategist. “However, sustained buying volume will be key to validating the breakout.”
If the $2.80 support fails, XRP could revisit the lower demand cluster near $2.60, with further weakness potentially dragging the token toward $2.30. Analysts warn that fragile sentiment across the broader market could weigh on XRP unless Bitcoin stabilizes.
For now, XRP remains range-bound between $2.80 and $3.20, with a breakout likely determining the next major trend. The descending channel breakout in July remains an important bullish backdrop, but failure to defend support could delay further gains.
The battle between bulls and bears at the $2.80 zone will decide whether Ripple can mount a sustained recovery toward $3.60 or slide back into consolidation.
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.