XRP News Today: XRP Holds Above $3.40 as Bulls Eye $3.12 Support

XRP is currently trading at approximately $3.52, maintaining strength after breaking its previous all-time high. This consolidation near the Fib 1.0 level at $3.40 is drawing heightened attention from market participants, especially as analysts like Egrag Crypto warn of a potential pullback to a critical support zone.

According to Egrag’s latest technical analysis, a retest of the Fibonacci 0.888 level at $3.12 remains firmly on the table, a scenario that could either affirm the ongoing bullish momentum or reveal hidden structural vulnerabilities.

One of the most encouraging signals in XRP’s current structure is its ability to stay above the Fib 1.0 level at $3.40. This area, which previously served as a resistance, is now being tested as a new support. Holding above this line signals market confidence and is generally considered a bullish indicator.

From a structural standpoint, this aligns with the textbook behavior seen in the early stages of a parabolic move, where price briefly consolidates before its next leg upward. Egrag Crypto describes this level as “super bullish,” noting that continued consolidation above it will likely energize bulls and keep downside pressure limited.

Despite the strength around $3.40, XRP is currently navigating within a descending channel on the 4-hour chart. This pattern typically reflects short-term profit-taking after a strong rally, and if the structure holds, the price could retest lower support before breaking out to the upside.

The most probable retest zone identified by Egrag is the Fib 0.888 level at $3.12, a key confluence of horizontal and diagonal support. A pullback to this level would not indicate weakness, but rather offer XRP a solid foundation, or as Egrag calls it, a potential “launch pad”, for the next upward move.

If XRP revisits the $3.12 zone and finds firm buying interest there, this would validate both the integrity of the structure and the ongoing strength of market participants. It would signal that XRP is simply resetting before another rally, potentially toward the Fib 1.21 extension near $4.16. This would be in line with classical Elliott Wave theory and Fibonacci extension targets seen in similar breakout scenarios. However, if XRP avoids the $3.12 retest altogether and continues climbing from current levels, this would demonstrate overwhelming bullish momentum. Such a move would suggest that the bulls are stronger than anticipated, accelerating price discovery toward new highs without allowing the market to reset.

Technicals continue to support the bullish narrative. XRP remains above major moving averages, including the 9-day EMA and the 50-day SMA, with momentum indicators like the MACD and RSI still showing strength. Overbought signals on the shorter timeframes might justify a temporary pullback, but broader indicators show that any dip would likely be met with strong demand.

XRP’s recent breakout to a new all-time high of $3.65 and its current price of $3.52 mark a significant shift in market sentiment, with analysts pointing toward macro targets ranging from $6 to as high as $27 over time.

As Egrag Crypto aptly outlines, XRP is at a crucial juncture. If price holds above $3.40, the bulls retain full control. If a retest of $3.12 occurs and holds, it offers the perfect setup for another breakout. In both cases, the outlook remains bullish; the question now is whether XRP builds momentum gradually with a healthy pullback or skips it entirely for a more aggressive move upward. Either outcome will shape XRP’s next chapter in what is already shaping up to be its most significant bull cycle yet.