XRP, one of the most popular cryptocurrencies, has climbed back near the $3 mark after a recent dip. However, this bounce hasn’t built enough strength to confirm a true recovery.
Resistance around $3
Veteran trader CasiTrades highlighted that XRP is still stuck inside a falling wedge and is coiling just below the $3 resistance. According to her, this level, also known as the 0.382 Fibonacci retracement, has acted as a ceiling for almost 20 hours. Despite repeated attempts, bulls have not yet broken through.
Growth Prospects towards $3.41
CasiTrades mentioned that structurally, nothing has broken down. This means the overall market trend is still intact. If XRP can climb above $2.96 and stay there, it would be the first clear sign that strength is returning. The next resistance targets to watch are $3.21 and $3.41, both of which could come into play if momentum picks up.
General Conclusions about XRP Status
As of now, XRP price is trading around $3, reflecting a jump of 1.8% seen in the last 24 hours, with the market cap hitting $178 billion. CasiTrades also noted that the RSI on smaller timeframes is showing bullish divergence, suggesting that sellers are getting tired, and buyers may be preparing for a push.
XRP remains at a critical technical level that can affect further growth. It is essential to monitor developments, as any changes in current dynamics may lead to significant price movements.
