XRP Faces $3 Resistance: Can It Break to $5.85 or Higher?
- XRP’s price remains trapped sideways, with key support at $1.96 and resistance at $3.
- A breach of the $1.96 level could lead to further declines, making it a crucial support zone.
- If XRP breaks the $3 resistance, it could target $5.85, signaling a potential upside.
XRP continued to be in a sideways pattern, and it has not yet been able to leave this phase. Lately, it has been experiencing some volatility levels, where it significantly reduced from $3.40 to $1.96, which is a critical support rate. It has been beaten on several occasions since December 2024 and has shown a lot of resilience. Even when the price was moving below this level, it recovered, indicating that there are still buyers for XRP.
The $1.96 level has remained the focal point of the XRP because it supports the token’s price. The price has fluctuated between the $1.96 – $2.60 level, so the price range is crucial for the market’s further direction to either consolidate or reach new highs. Traders pay close attention to these levels since a breach of the $1.96 level could precipitate more declines. As of press time, XRP is trading at $2.53, showing a 3.34% decline over the past day.
Source:
TradingView
Challenges Below $3 Mark
On the other hand, the price of XRP continues to hover, fluctuating at around $ 3, and this, to some extent, has been a major challenge for it. Dark Defender posted his analysis in an X post on Wednesday, pointing out that XRP is now trading in a range below $3. He pointed out that this level is the key level that will determine the further movement of the market. If the price of XRP moves above the $3 level, the path to the upside will be rather clear, with a target of $5.85.
Dark Defender reiterated that XRP is still in the third wave, and the pattern shows that the price is on its way to higher levels. He predicted that this may take the price to $8 or even up in the near future.
Related: Ripple’s XRP Ledger Recovers After Unexpected Network Halt
XRP now stands at one of the most important crossroads in its market. Support is $1.96, and resistance is $3, but it will be important to know whether the consolidation process will continue in the next two weeks. If the resistance is broken, the price of XRP may go up significantly, and traders will keenly observe these levels.
The post XRP Faces $3 Resistance: Can It Break to $5.85 or Higher? appeared first on Cryptotale.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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