XRP Soars to New All-Time High—But Don’t Pop the Champagne Yet, $3.12 Retest Looms
XRP just blasted past its previous record—only to face a brutal reality check. The $3.12 resistance level isn’t going down without a fight.
The Rally That Almost Was
After months of sideways action, XRP finally woke up. Traders cheered as it smashed through its ATH, but the charts whisper caution: this party might need a bouncer.
The $3.12 Stress Test
Every crypto’s dream run hits *that* price zone—the one where paper hands fold and leverage gets liquidated. For XRP, it’s $3.12. Bulls claim it’s a speed bump; bears see a brick wall. Place your bets.
Meanwhile, in TradFi Land…
Wall Street’s still trying to short Bitcoin with Excel spreadsheets. Good luck with that.
Analyst Points To $3.12 As Retest Zone
In a new post on social media platform X, respected crypto analyst Egrag Crypto cautioned that XRP may be due for a retest of the $3.12 level. The analyst referenced the Fibonacci 0.888 level, which currently sits at $3.1279, as a logical support zone if XRP were to retrace from its current price zone. According to his technical chart, XRP is currently consolidating within a descending channel on the 4-hour candlestick timeframe chart since it peaked at $3.65. However, it is still trading above $3.40, which is a bullish sign.
“Staying above Fib 1.0 ($3.40) is a super bullish sign,” he noted, “but we still need to keep an eye on the descending channel.” Keeping this in mind, XRP could break below the $3.40 level, and a retest could happen at Fib 0.888 ($3.12).
The $3.12 level stands out not just because of Fibonacci symmetry, but also because it coincides with an order block that formed as XRP pushed to new highs. If XRP returns to test this level and holds firm, it may confirm strength in the current rally structure and build the foundation for a continued climb toward the 1.21 Fibonacci extension, which is situated at $4.16.
Chart Image From X: Egrag Crypto
Bullish Momentum Still Intact
Although some investors may see a drop to $3.12 as a setback, Egrag believes the outcome could actually be bullish in the bigger picture. “If we do see a retest here, it could set us up for another launchpad,” he explained. However, skipping the retest entirely WOULD be even more telling as a clear sign that the bulls are stronger than anticipated.
A clean hold above $3.40 in the coming days would point to bullish dominance, especially if XRP breaks out of the yellow descending channel featured in Egrag’s chart. On the other hand, a controlled revisit to the $3.12 zone may offer a better entry point for new investors and prepare XRP for its next leg up to the $4.16 price target highlighted in the analysis.
At the time of writing, XRP is trading at $3.49.
Featured image from Unsplash, chart from TradingView
