XRP has taken a notable dip, sliding over 6% after failing to break past the $3.350 resistance barrier. However, the token is now holding firm near the $3.020 support zone, raising speculation about a possible bullish rebound.
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Price Action Overview
After a promising attempt to rally above $3.30, mirroring movements in Bitcoin and Ethereum, XRP briefly touched $3.350 but was swiftly rejected. This triggered a downward move, breaking through a key bullish trend line with support near $3.280 on the hourly chart.
The sell-off extended below $3.250 and $3.150, eventually testing the $3.020 zone. The latest swing low was recorded at $3.031, and since then, XRP has been attempting a recovery, edging toward the 23.6% Fibonacci retracement level from the $3.350 high.
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Current Technical Picture
Price Level: Below $3.120 and the 100-hour SMA.
Immediate Resistance: Around $3.150 — a decisive breakout here could lift XRP toward $3.20.
Next Resistance Targets: $3.250 and $3.265, with a critical test awaiting near $3.30.
If buyers regain control and push past $3.150, momentum could strengthen quickly, opening the path for a more sustained recovery.
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Risk of Another Drop
If XRP fails to clear the $3.150 barrier, downside pressure could resume:
First Support: $3.050
Major Support: $3.020
A close below $3.020 could drag prices toward $3.00, with a deeper slide possibly testing $2.880 — a key longer-term support zone.
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Technical Indicators
MACD: Bullish momentum is fading.
RSI (Hourly): Below 50, signaling weak buying pressure.
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Key Levels to Watch
Support: $3.050, $3.020
Resistance: $3.150, $3.20
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Conclusion:
XRP is at a critical juncture. Bulls must defend the $3.020 support and reclaim $3.150 to stage a meaningful comeback. A failure here could see the bears extending their control toward $3.00 and below.
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