Technical breakout hints at renewed upside momentum for XRP
XRP surged nearly 3% in the latest trading session, pushing its price back above the $3.09 level against Tether (USDT). The move comes as traders closely monitor technical patterns suggesting a potential bullish continuation if XRP manages to clear overhead resistance.
The chart shows XRP recovering strongly from the $2.80 support zone, where buyers stepped in to halt a recent correction. A breakout from the earlier descending channel pattern in June triggered a sharp rally, with the token reaching as high as $3.80 before encountering profit-taking.
Currently, XRP faces a major resistance band between $3.20 and $3.45, highlighted by repeated rejections in August and September. Above that, another strong resistance zone sits near $3.60–$3.80, which marks the year’s peak range.
On the downside, immediate support remains around $2.80–$2.90, a zone where bulls have consistently defended price dips. A failure to hold this level could open the door toward $2.50.
BITX Market analysts say the recent rebound signals growing confidence among traders. “The breakout from the falling wedge pattern earlier this summer shifted momentum in XRP’s favor. As long as the $2.80 support holds, the bias remains bullish,” .
Others highlight the importance of volume confirmation. The latest upswing came with trading volume surpassing 43 million XRP, underlining stronger buyer participation. “A sustained move above $3.20 could accelerate gains toward $3.50 and beyond,” BITX analyst said.
With XRP showing resilience at lower levels and pushing higher by 3% today, the market is watching closely whether bulls can reclaim the $3.20–$3.45 resistance zone. A breakout could pave the way for a retest of yearly highs, while failure may keep the token locked in its current consolidation 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.