Usman Salis
XRP (Ripple) has demonstrated impressive resilience in recent trading sessions, staging a notable comeback after testing crucial support levels. The digital asset's ability to bounce back from oversold conditions has caught the attention of traders and analysts who are now closely monitoring its next moves. With technical indicators suggesting renewed bullish momentum, XRP appears positioned for what could be its next significant price expansion phase.
XRP Finds Its Footing After Strategic Bounce
Analyst @Thebitcoin537 recently highlighted XRP's compelling technical setup as the cryptocurrency successfully defended a key demand zone around $2.85.
The asset has since recovered to trade at $2.94, marking a solid rebound that suggests institutional and retail buyers remain active at these levels. This bounce from support demonstrates the underlying strength in XRP's price structure, even amid broader market uncertainty.
The recovery comes after XRP experienced selling pressure that pushed it toward what many considered a make-or-break support level. However, the swift reversal indicates that bulls were waiting for an opportunity to re-enter the market at more attractive prices.
Next Stop: $3.20 Resistance in Focus
With XRP now trading above the $2.90 threshold, technical analysis points to the $3.20 level as the next major resistance target. This represents approximately a 9% upside move from current levels, which would mark a significant breakout if achieved. The $3.20 zone has historically acted as a formidable barrier, making any breach particularly meaningful for longer-term price action.
Traders are keeping a close eye on volume patterns and momentum indicators to gauge whether XRP can sustain its current trajectory. Maintaining support above $2.90 will be crucial for the bullish thesis, while a failure to hold this level could result in a retest of the $2.85 support zone.
Usman Salis
