Usman Salis
XRP finds itself at a make-or-break moment as it tests crucial support levels. The cryptocurrency has been under selling pressure for weeks, but technical indicators suggest a potential reversal could be brewing if key price levels hold firm.
XRP price is consolidating at a crucial support zone of $2.70, with traders eyeing a breakout above $2.90 that could open the path to $3.70.
XRP Price at a Critical Juncture
XRP is currently testing a major support level at $2.70 after experiencing weeks of downward momentum. This level represents a crucial battleground between buyers and sellers, and its outcome will likely shape XRP's near-term direction.
Crypto analyst @ali_charts suggests XRP could be setting up for a bullish reversal if buyers successfully defend the $2.70 zone. The analyst's roadmap involves three key steps: holding $2.70 support, breaking through $2.90 resistance, and ultimately targeting $3.70.
XRP Price Roadmap: From $2.70 to $3.70
The technical analysis identifies three critical phases:
- Phase 1: Defend $2.70 - If this support fails, XRP could drop to $2.48, signaling further weakness.
- Phase 2: Clear $2.90 - A breakout above this resistance would shift momentum in favor of buyers and signal a trend change.
- Phase 3: Target $3.70 - Fibonacci extensions point to the $3.66-$3.70 range as the next major target if bullish momentum builds.
Why Traders Are Watching XRP Closely
XRP has been trading below a descending trendline that's kept prices suppressed, but buyers continue to step in at key support levels. Breaking above $2.90 would not only breach this bearish pattern but could also trigger additional buying pressure and force short sellers to cover their positions.
Beyond technicals, Ripple's progress in cross-border payment solutions and improving regulatory clarity around XRP provide fundamental support for a more optimistic medium-term outlook.
Conclusion: Bulls Eye $3.70 if $2.70 Holds
XRP's next major move hinges on whether bulls can successfully defend the $2.70 support level. Success here could spark renewed buying interest, while a clean break above $2.90 would clear the path for a potential rally to $3.70.
The current price action at $2.70 represents a pivotal moment that could determine XRP's trajectory in the coming weeks.
Usman Salis
