Peter Smith
XRP is at a crossroads. After weeks of choppy sideways action, Ripple's token is pressing against a long-term descending trendline that's been capping upside since the start of the year. Buyers are defending horizontal support around $2.40, but sellers aren't backing down.
Technical Setup
Trader Giray flagged this setup as make-or-break - clear $3.00 with conviction and we could see a strong rally unfold fast. Fail here and the consolidation continues, or worse, we head back down.
The chart paints a clear picture. Support sits firmly at $2.40, with a deeper safety net around $1.99 if things get ugly. The real action is overhead where the descending trendline meets horizontal resistance right at $3.00 - that's the breakout level everyone's watching. Recent bounces from support show there's demand underneath, but bulls keep getting rejected at the trendline. Volume will be the tell. If XRP pushes through $3.00 on strong buying pressure, trapped shorts could get squeezed and fuel a rapid move higher. Until then, it's a waiting game.
The setup doesn't exist in a vacuum. Ripple's ongoing legal wins in the U.S. continue to shape sentiment around XRP. Broader altcoin appetite has picked up recently, bringing liquidity back into large caps. And macro factors like dollar strength and global risk appetite are still pulling strings behind the scenes. All of this feeds into whether buyers have enough firepower to break through or if sellers hold the line once again.
Bottom Line
XRP is sitting at a critical inflection point. Break above $3.00 and we could see rapid upside. Get rejected and $2.40 comes back into play. Watch the volume closely near resistance because when this trendline finally cracks, the move could happen fast.
Peter Smith
