XRP Holds $3.12 as Bulls Defend Critical Support Zone
XRP (XRP/USDT) is consolidating near $3.12 after a volatile week, with price action respecting major support and resistance zones visible on the 4-hour chart. The token has seen a strong recovery from its June lows, but traders are watching closely as it tests key technical levels.
Earlier this summer, XRP traded within a descending channel, with consistent lower highs and lows pressuring the price. That trend was decisively broken in July, sparking a powerful rally that carried XRP above $3.50 for the first time in months. The breakout was confirmed by rising volume, suggesting renewed buying interest.
Current Support and Resistance Zones
The chart highlights three key levels:
- Support 1: Around $3.00–$3.10, where bulls are currently defending price.
- Support 2: Near $2.80–$2.90, marked by strong historical demand.
- Resistance 1: Between $3.40–$3.50, where sellers have repeatedly capped rallies.
- Resistance 2: Around $3.70–$3.80, the next zone that must be cleared for further upside.
If XRP loses the $3.00 zone, analysts warn a deeper retest of the $2.80 demand area is possible. However, sustained closes above $3.50 could fuel a bullish continuation toward $3.80 and beyond.
Market strategists note that XRP is at a crossroads.
“The $3.00 level is a crucial line in the sand. If it holds, we could see a push toward $3.70. But a breakdown may trigger a sharper correction toward $2.80,” According to BITX .
The broader market also plays a role. With Bitcoin consolidating near record highs, altcoins like XRP often mirror larger sentiment shifts.
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.