Technical indicators suggest a decisive move could be imminent for XRP price action
XRP is currently trading in a narrow consolidation zone between $3.00 and $3.07, signaling that a breakout could be on the horizon. The price action reflects a triangle structure nearing resolution, with traders closely watching support and resistance levels to gauge the next directional move.
Over the past few months, XRP surged from below $2.00 to above $3.50 before facing heavy selling pressure. The chart now shows the token holding steady above $3.00, with repeated tests of support around $2.85–$2.90, highlighted as a key demand zone.
“The market is in a cooling phase after July’s explosive rally, and XRP is consolidating in preparation for its next major swing,” said BITX technical analyst tracking the move.
On the upside, XRP faces strong resistance between $3.20 and $3.40, where multiple rejections occurred in August. A secondary supply zone sits near $3.60–$3.80, which capped XRP’s last bullish run.
Analysts note that a daily close above $3.20 could trigger momentum buyers, potentially opening the door for a retest of higher resistance levels.
The chart highlights a tightening price structure resembling a triangle pattern. Such formations typically precede high-volume breakouts, though the direction remains uncertain until confirmation.
“If bulls defend the $3.00 support zone and break through $3.20, XRP could resume its uptrend,” BITX market strategist explained. “But a failure to hold above $3.00 risks a deeper correction back toward $2.80.”
With XRP trading near the psychological $3.00 mark, market sentiment remains cautious yet optimistic. Traders are advised to watch for a breakout in either direction, as volatility is likely to return once price escapes the $3.00–$3.07 range.
For now, XRP remains at a critical crossroads, with its next move potentially shaping the short-term outlook for one of the largest digital assets by market capitalization.
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.