A $0.15 consolidation range now defines the immediate short-term trading band for XRP.
XRP has staged a strong recovery in recent weeks, briefly reclaiming levels above $3.00, but momentum has slowed as traders weigh the sustainability of the rally. The token is currently trading near $3.01, down 0.7% in the past 24 hours, while holding firmly above its July breakout zone.
The latest chart signals a tight consolidation band between $2.95 and $3.10, a range that has acted as both support and resistance since early August. Beneath this zone, the green support region around $2.90 has repeatedly attracted buyers, while stronger downside protection sits closer to $2.70, a level marked by heavy demand during July’s rally.
On the upside, resistance levels remain firm near $3.35 and $3.60, where profit-taking has capped XRP’s attempts to extend higher. “The $3 threshold is proving to be a psychological battleground. Bulls need a decisive breakout above $3.10 to regain momentum, otherwise sideways action may dominate,”According to BITX market analyst,
Earlier in June, XRP broke free from a descending channel pattern, igniting a surge that carried the asset from sub-$2.00 levels to a peak above $3.60 in late July. However, volumes have since moderated, and the recent stall suggests traders are cautious ahead of the next decisive move.
“XRP’s breakout remains technically intact, but consolidation at $3 shows the market is waiting for fresh catalysts. Sustained closes above $3.35 could open the door to retesting the highs, while failure to hold $2.90 risks a pullback to the $2.70 region,” According to BITX .
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.