XRP Price Tightens Like a Spring—Is a Explosive Breakout Imminent?

XRP’s price action is coiling tighter than a Wall Street trader’s stress ball—and the market’s itching for a breakout.

Will this be the spark that ignites the next leg up, or just another false dawn in crypto’s endless drama? Here’s what the charts are screaming.

Bulls are circling, but remember: in crypto, ‘imminent’ can mean anywhere from five minutes to five fiscal quarters.

XRP Price Eyes Upside Break

XRP price formed a base above the $3.10 level and started a fresh increase, like Bitcoin and Ethereum. The price gained pace for a move above the $3.120 and $3.15 resistance levels.

The bulls pumped the price above the $3.250 resistance, but the bears were active NEAR $3.30. A high was formed at $3.30 and the price dipped toward the 50% Fib retracement level of the upward move from the $3.10 swing low to the $3.30 high.

The price is now trading above $3.220 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.2880 level. There is also a bearish trend line forming with resistance at $3.288 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $3.30 level. A clear move above the $3.30 resistance might send the price toward the $3.350 resistance. Any more gains might send the price toward the $3.380 resistance or even $3.40 in the near term. The next major hurdle for the bulls might be near the $3.450 zone.

Another Decline?

If XRP fails to clear the $3.30 resistance zone, it could start a fresh decline. Initial support on the downside is near the $3.20 level. The next major support is near the $3.150 level or the 76.4% Fib retracement level of the upward move from the $3.10 swing low to the $3.30 high.

If there is a downside break and a close below the $3.150 level, the price might continue to decline toward the $3.080 support. The next major support sits near the $3.020 zone where the bulls might take a stand.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $3.150 and $3.080.

Major Resistance Levels – $3.30 and $3.350.