Big Rebound Coming? XRP Targets $3.60 After Drop

Key Insights:

• XRP rebounded from $2.76 support, now consolidating above $3.00, with traders eyeing the $3.60 target.
• XRP/BTC nears breakout from 8-year downtrend, forming a converging triangle pattern suggesting possible volatility.
• RSI shows neutral momentum while BBTrend stays positive, signaling mild bullish conditions with cooling market strength.

XRP has shown signs of recovery after testing a support level near $2.76 on August 21. This area has acted as a base in past trading sessions, with multiple rebounds recorded. The recent bounce was followed by an upward move that brought the price back above $3.00.

At press time, XRP was trading at $3.01 with a 24-hour volume of $3.36 billion. This reflects a daily decline of 1% and a weekly decline of 4%. Despite the short-term drop, the market remains active, with traders closely monitoring the rebound.

Resistance Levels and Short-Term Outlook

On the 4-hour XRP/USDT chart, the token is facing short-term resistance near $3.10. This zone has acted as both support and resistance in recent weeks. A sustained break above this level could clear the way toward higher targets.

The next key resistance is located near $3.25. This level capped several rallies earlier this year. If buyers push price beyond this area, XRP could attempt a move toward $3.60. Ali noted that “$XRP is in the middle of a rebound to $3.60,” although he also pointed out that this level has twice rejected advances in the past.

Long-Term XRP/BTC Setup

On a broader scale, XRP’s performance against Bitcoin is approaching a decisive point. The XRP/BTC chart from Kraken shows a large converging triangle pattern formed by a long-term descending resistance line and an ascending support line dating back to 2017.

XRP is currently trading near 0.00002640 BTC, just under the descending resistance line. Gordon  remarked, 

“XRP/BTC is about to smash through its 8-yr downtrend.” 

A breakout would mark the first move above this structure in nearly eight years, though the level has rejected multiple attempts in the past.

Momentum Indicators Show Neutral Trend

The XRP/USDT daily chart shows price consolidating between $2.90 and $3.20 after peaking near $3.50. The Relative Strength Index (RSI 14) is at 48.86, close to neutral, showing neither strong buying nor strong selling pressure. The indicator has trended slightly lower, suggesting momentum has cooled without entering oversold territory.

The Bollinger Band Trend (BBTrend) is positive at 3.7393, reflecting mild bullish conditions. However, green bars on the indicator have been narrowing, suggesting that volatility and momentum have eased compared to early August. Traders are watching for a break above $3.20 to confirm renewed bullish momentum or a fall below $2.90 to signal further downside risk.