In recent days, XRP has shown market activity, experiencing impressive growth; however, the token has now broken a significant support level, raising questions about its short-term prospects.
Current Situation with XRP
XRP continues to maintain a bullish structure, forming higher highs and higher lows, which generally indicate strength. Despite a recent pullback, XRP has not yet confirmed the start of a bear market. As long as the price remains above critical support levels, the long-term outlook remains positive.
Recent Price Changes and Support Levels
In the short term, XRP has broken below the $3.40 mark, which had served as a strong support level for over a week. The current support level is around $2.90-$3.00, which has held up during previous corrections. Resistance is expected in the $3.30-$3.40 range, where the price has shifted from support to resistance.
What is Needed for Further XRP Growth?
For a real bullish push, XRP would need to reclaim the $3.25-$3.30 zone and hold above it. A sustained move above that level could open the door for a rally towards $4.60-$4.70, where important resistance is anticipated based on historical Fibonacci levels. On the other hand, if the price slips further, the next levels to watch would be $2.75 and $2.25, both seen as strong long-term support zones.
Thus, while XRP is still technically in a bull market, short-term signs point to a period of consolidation.
