XRP has shown strong growth in recent days, nearing a critical resistance level at $3.
Analysis of Current XRP Market Situation
The price of XRP has retested the $3 resistance level before stabilizing above $2.90 at the time of writing. Analysts suggest that this phase may be part of a powerful Wave 3 trend within Elliott Wave Theory.
Critical Resistance Levels
$3 is not only a psychological level but also corresponds to the macro 0.118 Fibonacci retracement level from XRP's all-time high. Reclaiming this level could signal a shift in the market towards a bullish trend.
Discussion on XRP's Future Prospects
The chart shows a divergence indicating mixed momentum. However, the lack of meaningful resistance beyond $3.40 may create an opportunity for XRP to accelerate its price movement significantly.
XRP stands on the threshold of a significant $3 level, opening up possibilities for further growth. Current technical indicators and analysis should be considered when evaluating future trends.
