Key Insights:
- XRP must defend $2.70 support; failure risks deeper losses, while holding opens path toward $3.20.
- Compression near support suggests stored momentum, with analysts expecting possible breakout once dip completes.
- Trading volume over $9 billion shows strong market activity despite recent declines in price performance.
XRP was trading at $2.75 with a 24-hour turnover of $9.02 billion. The token has dropped 4% in the past 24 hours and more than 9% over the past week. The recent decline has brought the market back to a critical support zone at $2.70.
Analyst Ali shared a chart of XRP/USDT on the 12-hour timeframe that shows repeated bounces at this level.
He stated,
“$XRP must hold $2.70 support to keep the chance of a rebound to $3.20 alive!”
The view suggests that as long as buyers defend this area, the structure favors a move higher.
Path Toward $3.20 Resistance
The chart posted by Ali shows dotted lines outlining a possible recovery path. This scenario would see XRP consolidating near current levels before making an attempt to climb back toward $2.95–$3.00. From there, the next target would be the $3.20 resistance zone, a level the market has tested before.
If $2.70 holds, the setup provides the technical base for this rebound scenario. A confirmed break below the level, however, could weaken the structure and open the way for a deeper pullback.
Compression Signals Building Energy
Another analyst, Kamran Asghar, described the current price action as “coiling.” His chart shows XRP consolidating inside a descending wedge pattern with support between $2.70 and $2.60. This area has acted as a strong floor multiple times in recent months.
Kamran explained,
“Support test underway. The spring is compressed. Expecting an aggressive move to $4.03 once this final dip is complete.”
In this view, the repeated compression could lead to an expansionary move once momentum shifts.
Market Outlook Hinges on Support Zone
Both charts emphasize the importance of the $2.70 level. Holding it would keep the case for a rebound intact, with upside targets set between $3.20 and $4.03 depending on the strength of the breakout. Losing it would leave XRP exposed to further downside pressure.
The next sessions may prove key, as the market decides whether support holds or breaks. For now, the $2.70 zone remains the line that defines whether XRP can mount a recovery or risk a deeper decline.
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