XRP News Today: XRP Bounces Between $3.04 Support and $3.24 Resistance Ahead of Key 4-Hour Close

XRP is currently consolidating within a tightly defined range between $3.04 support and $3.24 resistance as traders await a critical 4-hour candle close to determine the next directional bias. At the time of reporting, the token is trading at $3.12, reflecting a 3.3% drop over the past 24 hours. In BTC terms, XRP has fallen 1.2% to 0.00002620 BTC [1]. The recent price action shows a pattern of failed attempts to break above the $3.24 level, which has held firm as resistance, while the $3.04 level has repeatedly acted as a floor for short-term bounces [1].

According to chart data from Binance, the black diagonal trendline on the 4-hour chart has been a pivotal reference point for XRP’s price action. A decisive close above this trendline would be necessary to re-ignite bullish momentum and test the $3.24 resistance again. However, the current candle remains below this level, signaling continued uncertainty in market sentiment [1].

The market is now closely watching the $3.04 support zone, which has functioned as a key threshold for the token in recent weeks. If buyers fail to reclaim the black diagonal trendline in the near term, downward pressure could intensify. This is evident from the repeated tests of the support level without any sustained move above it, indicating that sellers are dominating the immediate price action [1].

XRP’s inability to break through the defined range has reinforced the significance of both the support and resistance levels. A 4-hour close above $3.04 would be crucial in altering the current narrative and potentially triggering a retest of the $3.24 resistance. Conversely, a close below $3.04 would likely lead to further bearish movement and shift attention toward lower price levels [1].

Traders are currently monitoring the upcoming 4-hour candle close with high interest, as it is expected to provide a clearer signal on XRP’s near-term direction. A sustained close above the black diagonal trendline would realign the market toward the $3.24 resistance, while a close below $3.04 would indicate persistent selling pressure and raise concerns about further downside [1].

The two-hour countdown on the live chart highlights the elevated interest among traders, with the next few hours expected to play a decisive role in determining whether XRP can reclaim lost ground or if the current bearish trend will continue [1].

Source: [1] XRP Trades in Narrow Range Between $3.04 Support and $3.24 Resistance Ahead of Key 4-Hour Close (https://cryptonewsland.com/xrp-trades-in-narrow-range-between-3-04-support-and-3-24-resistance-ahead-of-key-4-hour-close/)