XRP’s rally to $3 is a short-term bounce, not a confirmed bull breakout; technicals show repeated daily rejections at the Bollinger midline near $3–$3.09, keeping the short-term bias bearish until a sustained close above $3.35.
$3 acts as resistance on daily Bollinger Bands, not confirmed support.
Daily midline (~$3.09) and weekly mid-band (~$2.61) define the pivot zones.
Failure above $3 keeps downside open to $2.60 and potentially the low $2.00s.
XRP $3 resistance: technical analysis shows repeated Bollinger midline rejections; monitor daily closes above $3.35 for a confirmed breakout. Read on for levels and strategy.
What is causing XRP to stall at $3?
XRP price has repeatedly stalled at the $3 area because the daily Bollinger Bands midline (~$3.09) and nearby liquidity have created significant resistance. Short-term momentum fades on daily closes below the midline, leaving the market capped despite intraday rallies.
How do Bollinger Bands explain XRP’s price action?
On the daily chart, the Bollinger midline acts as the 20-period simple moving average. XRP’s recent attempts to push through $3 coincide with rejections at that midline. On the weekly chart the bands widened during the summer rally and then contracted during the retracement, placing the price back in the middle zone.
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Repeated daily failures to close above the midline make $3 more of a psychological cap than a sustained breakout. The daily midline is currently around $3.09; the weekly mid-band sits near $2.61. Those references frame the upper and lower bounds traders are watching.
For a decisive shift, XRP must clear and hold above the upper Bollinger band on the daily, near $3.35, on a sustained daily close. A confirmed close above that level would shift the structure from range-bound to bullish, opening room for further gains.
With continued rejection at the midline, the path toward $2.60 remains highest probability. If selling pressure intensifies, the next meaningful area of support is in the low $2.00s. Risk management should account for this broader downside possibility.
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Source: https://en.coinotag.com/xrp-may-stall-near-3-as-bollinger-bands-suggest-breakout-above-3-35-could-be-required/