XRP is showing signs of bullish continuation as it consolidates near the $3.00 psychological level, with traders closely watching resistance at $3.08 and support at $2.89.
The XRP/USDT pair has gained traction after breaking out of a prolonged downtrend earlier this summer. The token recently tested $3.08 resistance but failed to sustain momentum, retreating slightly to consolidate around $3.01. Analysts note that XRP is forming a bull-flag structure, a technical setup that often precedes further upside if confirmed.
The chart highlights key zones shaping the token’s next move. Immediate support lies at $2.89, a level that has been defended multiple times over the past week. A breakdown below this zone could open the door for a retest of the $2.70 region.
On the upside, XRP faces hurdles at $3.08, $3.34, and $3.60. A decisive break above $3.20 could trigger a strong bullish extension, potentially targeting the higher resistance zones identified by technical traders.
“The consolidation near $3.00 is healthy for XRP after a sharp rally. A confirmed bull-flag breakout above $3.20 could accelerate the next leg higher, but traders should watch volume for confirmation,” said BITX market strategist.
Trading activity around XRP remains elevated, with heavy flows observed near the $3.00 mark, underscoring the level’s psychological importance. Market participants believe that as long as $2.89 holds as support, XRP retains a bullish bias.
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.