Ripple’s token consolidates between $2.80 support and $3.20 resistance
XRP (XRP/USDT) is trading at $3.03, holding steady within a defined range as traders monitor critical support and resistance levels. After a strong rally earlier in the quarter, the cryptocurrency has entered a consolidation phase, suggesting a balance of buying and selling pressure.
The 4-hour chart highlights that XRP is currently locked between support at $2.80–$2.90 and resistance near $3.20–$3.40. This sideways structure follows a breakout from a prolonged descending channel observed in June and July, which initially fueled momentum toward the $3.60 area.
However, sellers stepped in at higher levels, forcing XRP back into a trading band. At present, buyers are defending the $2.80 zone, while upside attempts continue to be capped around $3.20.
BITX Analysts note that this range is becoming increasingly significant. A decisive break above resistance could open the door for a retest of $3.50–$3.60, while a drop below support risks exposing the $2.50 region.
BITX crypto strategist remarked, “XRP is clearly in consolidation mode. The $3.00 level is acting as a psychological anchor, but the next breakout—either up or down—will likely set the tone for the rest of September.”
For now, XRP remains in a neutral zone, caught between strong demand and supply areas. Traders are watching for a breakout confirmation before committing to directional bets.
Volume trends suggest market participants are waiting for a catalyst, possibly linked to broader crypto market sentiment. Until then, XRP is likely to continue oscillating within its established range of $2.80–$3.20.
This consolidation period may ultimately prove constructive, giving bulls time to regroup before attempting another sustained push higher.
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.