XRP shows resilience in the cryptocurrency market, establishing itself above the key $3.00 level. Analysts discuss potential price movements for the upcoming week.
What the XRP Chart Is Showing
On the 4H chart, XRP has broken out of its long sideways range at the start of September. The price jumped from $2.70 to over $3.40 before easing back. This breakout occurred after buyers forced the price through the $3.00 resistance, which now acts as strong support. The next hurdle is around $3.45-$3.50, where XRP has struggled to close. A clean move above that could clear the path towards $3.66 and maybe even $4.00. If bulls lose control and $3.00 fails to hold, a drop back to $2.85 is possible.
Market Indicators
Momentum remains positive but is not as hot as it was a few days ago. The RSI on the 4H chart is around 56, down from overbought levels above 70 during the early September rally, indicating some cooling of buying pressure. Open interest sits near $417 million, showing traders are keeping their positions open instead of taking profits. Net long positions are about $182 million, while net shorts are higher near $357 million, indicating some traders are leaning cautious.
XRP Price Short-Term Outlook
If bulls can defend the $3.00 support zone, XRP could take another shot at $3.45-$3.50 in the coming days. A strong daily close above that range would set up a push towards $3.66 and possibly $4.00. If $3.00 gives way, the coin might revisit $2.85 before buyers step in again. For now, XRP looks like one of the stronger large-cap cryptos, but this week will show whether bulls have enough momentum for another leg higher or if a pause is coming first.
XRP continues to attract investor attention as it maintains key levels. The currency's prospects for the upcoming week hinge on the ability to hold the $3.00 level and potential breakouts above $3.45.
