XRP Rebounds from Support, Eyes Breakout Zone
After weeks of consolidation, XRP (Ripple) is showing renewed bullish energy as the token rebounds from its key support range near $2.65–$2.70, signaling a potential attempt to reclaim the $3.20 resistance zone. The current price, hovering around $2.99, marks a subtle but important shift in market sentiment as traders prepare for a decisive move.
The daily chart reveals that XRP successfully defended a critical demand zone, forming a rebound from the green support band visible between $2.60 and $2.70. This area has repeatedly attracted buyers since late August. The recovery followed a prolonged descending channel breakout in mid-July, which historically acts as a bullish reversal pattern.
If buyers maintain pressure, analysts expect a test of the orange resistance region around $3.15–$3.25, a level that previously triggered strong selling activity. A breakout above this zone could open the path toward the major resistance near $3.75, last seen during the early August rally.
“The structure suggests healthy accumulation below $3.00,” said BITX analyst. “As long as XRP stays above its green support, bulls have a real shot at a sustained recovery rally.”
Trading volume has slightly increased compared to late September, hinting that buyers are gradually regaining confidence. RSI indicators on the daily timeframe also suggest that momentum is turning positive, aligning with previous bullish reversals seen after similar consolidations.
However, experts warn that a rejection from $3.20 could temporarily drag the price back to the $2.70–$2.75 support area, where the next accumulation phase might form.
With market sentiment stabilizing and XRP reclaiming higher lows, technical analysts see the next few sessions as crucial. A decisive close above $3.25 could confirm the return of medium-term bullish control, while failure to hold $2.70 may extend 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.