XRP News Today: XRP Faces $2.69 Resistance, Up 4% in 24 Hours

XRP has encountered a significant resistance level on its journey towards the $3 price mark, experiencing a rejection at this level over the past 24 hours. The cryptocurrency has been building momentum throughout May, leading to a sharp increase towards the upper $2.60 range. On May 12, XRP briefly reached $2.63 before retreating slightly, currently trading around $2.57.

Looking ahead, the major resistance at $2.69 is a critical point. Technical analysis indicates that this zone will determine whether XRP can continue its ascent towards $3.00 or face a pullback for consolidation. Crypto analyst CasiTrades has identified $2.69 as a crucial resistance level, representing the 0.236 Fibonacci retracement from XRP’s all-time high. This level has been a key point for correction, leading to multiple retracements since December 2024. Even when XRP briefly reached $3.3 in January, this zone proved challenging to break, with an order block created just before the rally.

Momentum indicators have remained relatively subdued during XRP’s recent rally. The cryptocurrency has completed what appears to be a full 5-wave Elliott count, but instead of a retracement, the price has continued to rise slowly alongside the broader crypto market. This controlled push higher suggests strong underlying demand, a robust trend, and significant accumulation.

The $2.69 level could be the final barrier before XRP is cleared for a run towards $3.00 and beyond. A confirmed breakout, ideally with a strong daily candle close above this level, would invalidate short-term bearish pressures and drive the price higher. However, if $2.69 remains a formidable resistance, XRP may enter a temporary cooling-off phase. In this scenario, the next logical support level is around $2.30, close to the 0.382 Fibonacci retracement level. This zone could offer a healthy reset for the XRP price.

Regardless of the outcome, the price behavior at $2.69 is expected to set the tone for the rest of May and determine whether XRP can extend its 2025 bullish trend. At the time of writing, XRP is trading at $2.57, up 4% in the past 24 hours. The next few days will be crucial in determining the direction of XRP’s price movement, with the $2.69 resistance level holding the key to its future trajectory.