XRP Price: Testing $3.00 Resistance

XRP Price: Suggests Possible Test of $3.00 Resistance

XRP, the native cryptocurrency of the Ripple network, has demonstrated remarkable resilience in recent weeks, maintaining a stable position above the $2.60 support level while other major cryptocurrencies have experienced periods of weakness. This performance has been particularly notable as Bitcoin and Ethereum have faced challenges in their own markets.

The price action for XRP has been characterized by a series of measured upward movements, with the digital asset successfully breaking through several resistance levels at $2.55 and $2.65. Market data from Kraken shows that XRP achieved an important breakthrough when it surpassed the $2.750 resistance level, reaching a local high of $2.8322 before entering a consolidation phase.

An analysis of the hourly chart reveals the formation of a bullish trend line, providing support at the $2.680 level. This technical pattern suggests continued buyer interest at these price levels. The price maintains its position above both $2.650 and the 100-hourly Simple Moving Average, indicating sustained bullish sentiment in the short term.

Trading activity shows increased volume during the recent price movements, suggesting genuine market participation rather than speculative activity. The price action has remained relatively stable during this period, with only minor retracements observed. A key factor in the current market structure is the shallow retracement below $2.75, which only briefly dipped below the 23.6% Fibonacci retracement level, suggesting strong buyer support during pullbacks.

Looking at potential price targets, several resistance levels have emerged as important areas to watch. The immediate resistance sits at $2.750, followed by a stronger barrier at $2.80. Should the price successfully break above these levels, the next major resistance appears at $2.840. Technical analysis indicates that a breakthrough above $2.840 could potentially open the path toward the $2.920 level. Beyond this, the psychologically important $3.0 level looms as a major target for bulls, with $3.050 serving as the next reference point.

The market structure also reveals strong support levels that could come into play if the price experiences a pullback. The immediate support coincides with the trending line