Will Ripple’s XRP Break Above $3 After Holding $2.90?
Ripple’s XRP holds above $2.90, with momentum indicators pointing to easing bearish pressure.
FUNDAMENTAL OVERVIEW:
XRP is showing early signs of easing bearish momentum, stabilizing after recent volatility. The token found strong support near the $2.72 daily level last Friday, which triggered a nearly 5% rebound by Monday. However, bullish momentum stalled as XRP encountered resistance at the 50-day EMA around $2.91 on Tuesday, leading to a slight 1.16% pullback. As of Wednesday, the price is consolidating near $2.94, suggesting that buyers are attempting to regain control.
A decisive daily close above $2.95 could act as a catalyst for further upside, potentially driving XRP toward the key psychological barrier at $3, which may attract additional buying interest. On the flip side, failure to hold current levels could see the token revisiting support around $2.72, where demand previously cushioned the decline. Overall, XRP appears to be at a critical juncture, with traders closely watching whether bullish momentum can overcome short-term resistance or if another corrective phase will unfold.
RIPPLE TECHNICAL ANALYSIS CHART:
Technical Overview:
Ripple is trading within an up channel.
Ripple is moving above all the Moving Averages (SMA).
The Relative Strength Index (RSI) is in Buying Zone, while the Stochastic oscillator suggests Positive trend.
Immediate Resistance level: 3.00
Immediate support level: 2.80
HOW TO TRADE RIPLLE
Ripple (XRP) rebounded from recent lows, breaking above a key resistance with strong bullish momentum. The token now faces rejection at higher levels and is retracing toward the demand zone. Holding this zone could trigger a fresh upswing, with scope to test the next resistance levels.