After a recent rally, XRP has hit resistance and is now trading below the key $3.25 level. The market has entered a consolidation phase, and if selling pressure intensifies, the token could fall below the $3.080 support.
Correction After a Sharp Rise
After forming a solid base above $2.920, the bulls triggered a strong rally, pushing XRP through resistances at $3.20 and $3.25. The price even climbed to $3.380 before bears took control and began driving it lower.
This was followed by a drop below $3.250 and a break under the 23.6% Fibonacci retracement level of the recent move from $2.90 to $3.380.
A technically significant moment came when XRP broke below the support line of a contracting triangle at $3.20, as shown on the hourly chart of the XRP/USD pair (source: Kraken). The token is now holding below $3.220 and the 100-hour simple moving average.
What Bulls Can Expect
If the price rebounds, the first barrier will be at $3.20. The next major resistance lies at $3.220 – a clear move above this level could open the way to $3.2650. Should the upward momentum continue, the market might advance to $3.320 or even $3.350. A strong resistance zone, however, awaits near $3.450, where sellers could intensify once again.
Bearish Scenario
If XRP fails to break above the $3.220 resistance zone, a further decline is likely. The first key support is at $3.120, but the critical level remains $3.080 – which corresponds to the 61.8% Fibonacci retracement of the latest rally.
A break and close below $3.080 could lead to further weakness toward $3.020 and then to the psychological $3.00 level, where bulls might attempt to stabilize.
Technical Outlook
MACD (1h): Accelerating in the bearish zone, favoring sellers.
RSI (1h): Currently below the neutral 50 mark, confirming weaker bullish momentum.
Key Supports: $3.120 and $3.080.
Key Resistances: $3.220 and $3.2650.
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