XRP is demonstrating remarkable resilience as it hovers above the crucial $2.950 mark. The cryptocurrency seems poised for a potential breakout, eyeing heights beyond the $3.120 threshold—a pivotal resistance point that traders are watching closely.
A Closer Look at XRP’s Current Momentum
The digital asset is currently nestled comfortably above $2.950, buoyed by the 100-hourly Simple Moving Average. This is a promising sign, suggesting that XRP could be gearing up for another upward march. The scene is set with a discernible rising channel on the hourly chart of the XRP/USD pair, particularly on Kraken’s exchange data, indicating that a leap past $3.120 might not be far off. As explored in our recent coverage of XRP and Solana’s bullish signals, both cryptocurrencies are showing strong potential for upward movement.
“XRP’s current price action is intriguing,” remarked crypto analyst Jamie Liu. “The market’s attention is fixated on whether it can punch through the $3.120 barrier. If it does, we could see a swift ascent towards $3.150, and possibly even $3.20.”
However, it’s not all blue skies. The price has met resistance near $3.120 before, with bears making their presence felt. A high of $3.1260 was recorded recently, highlighting the struggle at this juncture. Yet, the cryptocurrency is consolidating those gains, staying afloat above the 23.6% Fibonacci retracement level from a recent surge starting at $2.781 up to that $3.126 apex.
Resistance and Support: Key Levels to Watch
The XRP bulls face their first significant challenge at $3.065, a precursor to the more formidable $3.120 resistance zone. Should the price manage to clear this hurdle, the next target would be the $3.150 resistance, with $3.20 following closely as another potential checkpoint.
On the flip side, there’s a specter of decline should the cryptocurrency falter at the $3.120 resistance. Initial support is pegged at around $2.990, with the more substantial safety net positioned at $2.950. A breach here could spell trouble, possibly dragging the price down to $2.920—aligning with the 61.8% Fibonacci retracement level of the aforementioned upward trend.
“Investors should be wary of the $2.950 mark,” cautioned Liu. “Falling below could trigger a bearish trend, but for now, the indicators are optimistic.”
Technical Indicators Pointing to Strength
The technical landscape offers further insights. The hourly MACD is gaining bullish momentum, suggesting an upswing could be on the horizon. Meanwhile, the Relative Strength Index (RSI) for XRP/USD sits comfortably above 50, reinforcing the cryptocurrency’s current vigor. This mirrors the broader market trends, as detailed in our analysis of Shiba Inu and Ethereum’s potential, where similar bullish patterns have been observed.
In recent weeks, XRP has outperformed its peers like Bitcoin, which has stumbled, and Ethereum, which has shown similar upward mobility. This comparative strength underscores XRP’s potential as a robust investment option, amidst a market that often feels like a rollercoaster.
As the summer of 2025 progresses, all eyes remain fixed on XRP’s next moves. Will it conquer the $3.120 resistance and sail higher, or will it succumb to bearish pressures? This question looms large, inviting both seasoned traders and crypto novices to closely monitor the unfolding drama. The market, as always, is brimming with possibilities—and XRP is right at the heart of it.
Source
This article is based on: XRP Price Action Signals Strength, More Upside Potential Ahead
Further Reading
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- Interest In Altcoin Season Crashes 88% In August As Ethereum Price Tanks
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
