Bulls Defend Key Level After $273M Turnover
XRP (XRP/USDT) is holding steady around $3.00, consolidating after a volatile trading session that recorded a $273 million spike in trading volume on Tuesday. The surge in activity highlighted renewed investor interest, but the price now faces a critical test between support at $2.98 and multiple overhead resistance levels.
The chart shows that XRP recently broke out of a prolonged descending channel, sparking a strong rally above $3.50 before retreating. Since then, the cryptocurrency has retraced and is now stabilizing in a green demand zone around $2.95–$3.00, suggesting that buyers remain active at these levels.
“The $2.98 region is acting as a key support for XRP,”According to BITX market analyst. “If bulls can maintain this zone, we could see a rebound toward the $3.20–$3.40 resistance range. However, a breakdown below $2.95 may expose XRP to deeper losses around $2.70.”
The red resistance zones on the chart highlight areas where sellers are expected to remain strong, particularly at $3.20, $3.40, and $3.55. Â BITXÂ Analysts caution that a decisive breakout above $3.55 could trigger further gains, potentially opening a path back toward $3.80.
Despite the pullback from local highs, XRP continues to trade with elevated activity, indicating that market participants are positioning for the next major move. Trading volume spikes often precede significant volatility, and the recent $273M turnover reflects that short-term traders are closely watching this range.
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.