XRP has recently shown a strong shift in momentum after breaking out of its prolonged downtrend structure. Earlier, the market was respecting a consistent descending channel, but the breakout above that trendline initiated a bullish phase. This move was supported by higher highs and higher lows formation, signaling growing demand.
Currently, price action is consolidating around the $2.95 – $3.00 zone, which is acting as a short-term decision point. The highlighted shaded area on the chart suggests that XRP may accumulate in this region before attempting another impulsive rally.
Immediate Support:
The nearest support sits at $2.95 – $2.91, where buyers have stepped in multiple times. A deeper retracement may test the key support point at $2.74 – $2.65, which is a strong demand zone and a crucial level to maintain bullish structure.
Resistance Levels:
On the upside, the first resistance lies around $3.15 – $3.20, followed by a retest of the recent top at $3.23. A clean break above this zone could open the way toward $3.30 and beyond.
Momentum Outlook:
Despite short-term pullbacks, the overall structure remains bullish as long as price holds above $2.74. The projection shows potential for accumulation at current levels before a push higher, targeting the $3.20+ range.
📌 Trading Plan (Educational View):
Bullish Scenario: Holding above $2.95 keeps XRP in a strong position for a breakout. Accumulation here could fuel another rally toward $3.20 – $3.30.
Bearish Scenario: A breakdown below $2.74 would invalidate the bullish structure and expose XRP to deeper correction toward $2.65.
Currently, price action is consolidating around the $2.95 – $3.00 zone, which is acting as a short-term decision point. The highlighted shaded area on the chart suggests that XRP may accumulate in this region before attempting another impulsive rally.
Immediate Support:
The nearest support sits at $2.95 – $2.91, where buyers have stepped in multiple times. A deeper retracement may test the key support point at $2.74 – $2.65, which is a strong demand zone and a crucial level to maintain bullish structure.
Resistance Levels:
On the upside, the first resistance lies around $3.15 – $3.20, followed by a retest of the recent top at $3.23. A clean break above this zone could open the way toward $3.30 and beyond.
Momentum Outlook:
Despite short-term pullbacks, the overall structure remains bullish as long as price holds above $2.74. The projection shows potential for accumulation at current levels before a push higher, targeting the $3.20+ range.
📌 Trading Plan (Educational View):
Bullish Scenario: Holding above $2.95 keeps XRP in a strong position for a breakout. Accumulation here could fuel another rally toward $3.20 – $3.30.
Bearish Scenario: A breakdown below $2.74 would invalidate the bullish structure and expose XRP to deeper correction toward $2.65.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.