Ripple’s XRP Finds Strong Support Near $2.80 With Signs of Renewed Demand
XRP (Ripple) is showing signs of resilience after retesting the $2.80 support zone, sparking optimism among traders that the token could be setting up for a larger bullish continuation. Market observers highlight the emergence of technical patterns that suggest potential upside, with some projections pointing to a move toward the $5.00 region in the medium term.
The price chart indicates that XRP recently completed a falling channel breakout in June, followed by a strong rally to nearly $3.80. Since then, XRP has faced persistent selling pressure, repeatedly rejecting resistance levels at $3.20, $3.40, and $3.70.
Despite the retracement, XRP has consistently defended the green support zone between $2.70 and $2.85, where buyers appear to be absorbing supply. A confirmed rebound from this zone could propel XRP back toward the $3.20 resistance level, with a breakout opening the door to higher targets.
Traders remain cautiously optimistic. “XRP is forming a bullish structure that resembles earlier accumulation patterns. As long as $2.80 holds, the probability of a move toward $5.00 remains intact,” According to BITX technical analysts .
According to BITX experts emphasized the role of regional buying pressure, stating, “Korean exchanges are seeing renewed demand for XRP, which historically has been a catalyst for strong price rallies. If this momentum continues, we could see acceleration once key resistance levels are cleared.”
Volume trends suggest that sellers are losing strength as consolidation deepens near support. A decisive close above $3.40 would be an early signal that momentum is shifting in favor of bulls, with $5.00 emerging as a psychological target. Conversely, failure to defend $2.70 could lead to a deeper correction toward $2.40.
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.