XRP News Today: XRP Hovers Near $3.12 Key Resistance for Potential Bullish Breakout

XRP remains at a pivotal technical juncture as it trades just below the critical $3.12 level, which is seen as a key confirmation point for a potential bullish breakout. Respected crypto analyst Egrag Crypto has emphasized that a daily close above this threshold could validate the recent low and set the stage for a new all-time high (ATH) for the asset. However, the formation hinges on maintaining support at $2.65 on the mid-time frame; a break below that level could unravel the current bullish structure and lead to a deeper correction [1].

The macro-level bullish pattern for XRP, which has been forming over several months, suggests a potential breakout in the $3.12–$3.20 range. If achieved, this would confirm the recent dip as a higher low and could propel the asset toward the $3.60–$3.65 range, with the potential to revisit ATH territory. The pattern—possibly a symmetrical triangle or a rising wedge—indicates that the path of least resistance is to the upside, provided key levels are not breached [1].

XRP’s price has recently pulled back from a local high of $3.55 on July 22 to hover around $2.94. The current trading range is defined by a tight corridor between $2.91 and $3.05, with $3.12 acting as the immediate resistance. Traders are closely watching whether XRP can break through this level decisively, as it would signal strong buying momentum and potentially reignite broader bullish sentiment. Meanwhile, the $2.65 level remains a crucial support line, with a breakdown there likely to invalidate the current setup and open the door to further downward movement [1].

Egrag’s commentary combines technical insight with a clear message of encouragement for XRP holders. “XRPFamily, stay steady and strong. Together we rise, and soon we shall fly so high,” the analyst wrote, reinforcing the idea that patience and confidence are key in navigating the current market structure [1]. This dual approach—technical clarity and community motivation—highlights the significance of the current juncture for the asset.

With XRP currently trading near $2.94, the immediate focus remains on the $3.12 level. A confirmed close above this mark would be a strong bullish signal, while a failure to maintain support at $2.65 could lead to further consolidation or a more pronounced pullback. Traders and investors are advised to monitor these levels closely as they could determine the next major direction for the asset [1].

Source: [1] Analyst to XRP Holders: Stay Steady and Strong. This Formation Will Send Us Back to New ATH – TimesTabloid (https://timestabloid.com/analyst-to-xrp-holders-stay-steady-and-strong-this-formation-will-send-us-back-to-new-ath/)