XRP is showing signs of renewed momentum after defending a key support zone, with traders closely watching if the token can reclaim the psychological $3 level.
According to CoinMarketCap data, XRP is trading at $2.94, up more than 4% over the past 24 hours. The move comes alongside a 37% jump in daily trading volume, signaling fresh buying activity. With a market capitalization now at $176 billion, XRP continues to hold its position as the third-largest cryptocurrency.
Technical Signals Point to Upside
Market analyst Ali Martinez noted that XRP has once again held strong at a crucial support area. His chart analysis suggests that the token could be preparing for a rebound toward the $3.00–$3.15 range. Previous retests of this level have acted as reliable springboards, reinforcing its significance.
The daily chart also paints a constructive picture. While XRP has been consolidating after strong rallies earlier this year, the Relative Strength Index (RSI) is hovering around 51 – a neutral zone that leaves room for further volatility. If momentum builds, traders expect a breakout above $3 could invite additional bullish pressure.
Outlook for the Coming Weeks
XRP’s resilience has fueled optimism that the asset may be preparing for a broader upswing. If the $3 threshold is cleared and sustained, the next test could come near $3.15, with further resistance stretching into the $3.30–$3.50 zone. On the downside, analysts caution that losing support around $2.80 could reopen the path toward deeper corrections.
Beyond the charts, XRP’s performance is also being influenced by broader crypto market sentiment. With Bitcoin climbing above $118,000 earlier in the week and altcoin strength returning, traders are paying close attention to whether XRP can ride the wave of renewed optimism in digital assets.
For now, all eyes are on the $3 level – a break above it could mark the start of XRP’s next decisive move.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-bulls-defend-support-as-3-breakout-nears/