XRP News Today: XRP rebounds above $3.14 as bulls target $3.30 with key support holding

XRP has demonstrated renewed bullish momentum following its retest and partial reclamation of the $3.14 resistance level on the 4-hour chart. According to analyst Cryptoes, this level had previously acted as a strong barrier for upward movement, and breaking it has reinvigorated bullish sentiment among traders [1]. Although XRP is currently trading slightly below $3.14, the broader technical structure suggests that buyers are stepping in with increasing confidence, particularly if key support levels hold in the coming sessions.

The 4-hour chart now shows XRP rebounding off the lower boundary of an ascending parallel channel near $3.05, marked by strong buy-side interest indicated by long lower wicks. This bounce has allowed the asset to climb back into the channel and approach mid-range resistance. Additionally, the Parabolic SAR indicator has flipped below the price, a widely recognized signal of a potential trend reversal to the upside [1]. These developments, combined with the recent intraday high of $3.17, reinforce the view that momentum is shifting in favor of buyers.

Looking ahead, the next immediate target for XRP is between $3.30 and $3.35, near the upper boundary of the ascending channel. A strong breakout above this range, especially if accompanied by increased trading volume, could signal the start of a new upward move [1]. However, if the $3.14 level fails to hold, XRP could retrace toward $3.05, or even fall to the psychological $3.00 level. A decisive breach of the lower trendline would be necessary to invalidate the current bullish structure.

The recent price action is occurring within a broader context of favorable market conditions. XRP is benefiting from a general altcoin revival and growing confidence in Ripple’s expanding ecosystem. The RLUSD stablecoin, which recently recorded $3 billion in monthly volume, is drawing attention due to its token-burning mechanism that burns XRP with each transaction. This mechanism supports XRP’s long-term tokenomics and utility, adding a fundamental underpinning to the current bullish narrative [1].

In terms of the broader market environment, some analysts have noted that the U.S. Securities and Exchange Commission (SEC) may be adopting a more accommodative stance toward digital assets. This shift has raised speculation about the possibility of an XRP ETF being approved by early fall, which could attract institutional investors and enhance the asset’s liquidity [2]. Nevertheless, caution remains warranted, as the recent movement of 50 million XRP tokens by Ripple founder Chris Larsen to exchanges has prompted concerns over potential volatility and profit-taking [3].

While XRP’s technical outlook is encouraging, the path forward will depend on its ability to maintain price above critical support and resistance levels. A sustained close above $3.03 could set the stage for a push toward new all-time highs [2]. Until such confirmation is achieved, market participants will closely monitor both technical performance and regulatory developments to gauge the likelihood of a lasting uptrend.

Sources:

[1] TimesTabloid, [https://timestabloid.com/analyst-says-xrp-bulls-are-stepping-in-after-beating-this-hurdle/](https://timestabloid.com/analyst-says-xrp-bulls-are-stepping-in-after-beating-this-hurdle/)

[2] Crypto, [https://cryptoadventure.com/real-fun-starts-if-xrp-price-ends-july-above-3-new-analysis-says](https://cryptoadventure.com/real-fun-starts-if-xrp-price-ends-july-above-3-new-analysis-says)

[3] Instagram, [https://www.instagram.com/p/DMwPZzCOwpq/](https://www.instagram.com/p/DMwPZzCOwpq/)