XRP News Today: XRP Retraces From $3.45 Resistance Amid Bearish Candle Patterns

XRP recently experienced a sharp reversal after testing the $3.45 resistance level, intensifying market focus on critical support zones. Analysts, including Egrag Crypto, have observed a bearish candlestick pattern similar to those seen in January and May, which historically preceded extended declines. The failed breakout above $3.45 has led to a reevaluation of the asset’s short-term trajectory and reinforced bearish sentiment in the immediate outlook [1].

Despite the pullback, XRP remains above the crucial $2.65 support level, a key defense for bulls. Traders are closely watching whether the asset can stabilize in this range or if further downward pressure could push it closer to $1.85, a level seen as a potential bottom for the bullish case. Technical indicators suggest that maintaining a close above the body of the key Shooting Star candle is essential for preserving the integrity of the bullish structure [2].

The current price action has placed XRP in what Egrag refers to as “Region 2,” or the “Super Bullish” zone. A sustained move back into the higher “Valhalla” zone, beginning at $3.45, would signal renewed confidence in the asset’s upward momentum. However, a failure to maintain support above $2.00 could lead to a breakdown in the bullish narrative and open the door to further consolidation or even a deeper correction [3].

The recent price volatility occurred just 35 days after a key bullish candle formation, aligning with the projected timeframe for potential rejection. This timing has led some analysts to suggest that the current consolidation could be a temporary pause rather than a definitive bearish turn. However, given the repeated resistance at $3.45, caution remains warranted [4].

Looking ahead, the coming weeks will be critical for XRP. A confirmed breakout above $3.45 would serve as a strong technical validation for further upward movement, while a sustained decline below key support levels could trigger renewed selling pressure. With the broader crypto market showing signs of stabilization and regulatory developments supporting the digital asset ecosystem, XRP’s next move will be closely monitored by both retail and institutional investors [5].

[1] XRP recorded a notable pullback this week after testing the $3.45 resistance level, triggering renewed focus on the asset’s key support zones. According to chart insights shared by market analyst Egrag Crypto, the reversal followed a previously identified bearish candlestick pattern that has reappeared in XRP’s price action. (https://coinmarketcap.com/community/articles/688dda6a61073e753d70ec60/)

[2] The price of XRP briefly crossed the $3.30 threshold but was met with resistance, resulting in a consolidation phase that has left the asset rangebound. Technical analysts note that a confirmed break above this level would signal the potential for further bullish movement. (https://www.financemagnates.com/trending/)