XRP Price Holds Firm - Can Bulls Finally Break Through Resistance?

XRP defies market turbulence as bullish momentum builds beneath the surface. The digital asset continues trading within a tight consolidation pattern that's testing both trader patience and institutional confidence.

Technical Standoff

Buyers maintain defensive positions around key support levels while sellers cap every attempted breakout. This stalemate creates tension that typically precedes major moves—either explosive upside or cascading liquidations.

Market Mechanics at Play

Volume patterns suggest accumulation by larger players despite public skepticism. The classic 'wall of worry' scenario unfolds where retail hesitation contrasts with strategic positioning by whales who apparently still believe in banking partnerships that may or may not materialize.

Regulatory Overhang

Ongoing regulatory clarity—or lack thereof—continues casting shadows across price action. Until concrete legislation emerges, XRP trades like a tech stock masquerading as a currency, complete with all the speculative baggage that entails.

The Final Push

Breaking current resistance requires either monumental volume or catalytic news—neither of which comes cheap in a market where most 'fundamental developments' turn out to be glorified press releases. But in crypto, sometimes hope alone moves markets faster than actual revenue.

XRP Price Starts Consolidation

XRP price started a downside correction from $3.0850, like Bitcoin and Ethereum. The price traded below the $3.050 and $3.000 levels.

The price dipped below the 23.6% Fib retracement level of the upward move from the $2.824 swing low to the $3.080 high. Besides, there was a break below a key contracting triangle with support at $3.020 on the hourly chart of the XRP/USD pair.

However, the price found support NEAR the $2.950 zone. It seems like the bulls are protecting the 50% Fib retracement level of the upward move from the $2.824 swing low to the $3.080 high. The price is now trading near $2.980 and the 100-hourly Simple Moving Average. If the bulls remain in action, the price could attempt another increase.

On the upside, the price might face resistance near the $3.020 level. The first major resistance is near the $3.080 level. A clear move above the $3.080 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.150 resistance. The next major hurdle for the bulls might be near $3.20.

Another Decline?

If XRP fails to clear the $3.080 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.950 level. The next major support is near the $2.9220 level.

If there is a downside break and a close below the $2.9220 level, the price might continue to decline toward $2.840. The next major support sits near the $2.780 zone, below which the price could gain bearish momentum.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

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

Major Support Levels – $2.920 and $2.840.

Major Resistance Levels – $3.080 and $3.120.