XRP at a Crossroads: Can It Smash Through $3.20 or Will It Retreat to $2.95?

XRP teeters on the edge—again. The digital asset faces a brutal $3.20 resistance wall, leaving traders sweating over the next move. Will bulls muster enough force to break through, or is a retreat to $2.95 inevitable?

The stakes? Higher than a crypto bro’s leverage. A clean breakout could signal fresh momentum, while failure might trigger a sell-off faster than a bank executive cashing out their bonus.

Technical indicators whisper of tension. Volume’s building, but so is skepticism—because when has crypto ever made things easy? Watch the order books. If XRP flinches at $3.20, prepare for a slide. If it punches through? Cue the usual chorus of 'to the moon'—until the next correction, of course.

• XRP drops 4.33% to $3.13, with trading volume rising 8.44% to $10.68 billion amid market volatility.
• Breaking the $3.20 resistance could push XRP toward $3.43 and $3.67, indicating bullish potential.
• Bearish momentum continues as XRP faces support at $3.00 and resistance at $3.20, with the RSI near oversold levels.

Ripple (XRP) is currently trading at $3.13 with a 4.33% drop in the last 24 hours. The trading volume is also experiencing a surge, with an increase of 8.44%, and it stands at $10.68 billion. However, the market is active, as evidenced by the increase in trading volume amid the decline.

Source: CoinMarketCap

Over the past week, XRP has fallen in value by 5.52%. This is a negative trend even though the market is fluctuating. The coin is still experiencing volatility, affecting the attitudes of investors and market trends.

XRP Faces Key $3.20 Resistance with Critical Levels Ahead

Crypto analyst CryptoPulse highlighted that XRP is approaching a crucial level of $3.20. After being repelled at new highs, the coin has now passed a determining period. Targets could be set at $3.43 and $3.67 if XRP is able to break through and stay above this level.

Nonetheless, in case XRP is rejected at the $3.20 price, it can fall back to lower prices around $2.95. This may reflect additional downward pressure on the coin. Traders are closely monitoring the situation to anticipate the token’s next move.

Source: X

Moreover, another analyst, GemXBT, mentioned that XRP was experiencing bearish momentum on the 1-hour chart. The 5, 10, and 20-period moving averages are below the 5, 10, and 20-period moving averages, indicating further bearish momentum. 

The support area is at $3.00, and resistance is at around $3.20. The Relative Strength Index (RSI) is nearing a position that indicates a short-term reversal. Nevertheless, the crossover in MACD is bearish, which supports the bearish bias.

Source: X

Open Interest Drops 6.07% as Trading Volume Rises 10.17%

CoinGlass data shows that the trading volume of Ripple rose by 10.17% to $14.82 billion. Open interest declined by 6.07% to $8.18 billion. The Ripple OI-weighted funding rate is currently at 0.00480%, indicating that the market’s sentiment has shifted. The market is still in a state of uncertainty, with traders shifting positions as they wait to see some stabilization or additional weakening.

Source: CoinGlass

Ripple’s fate will be determined by the critical support and resistance lines it will encounter in the coming days. Investors closely monitor any opportunity to reverse or extend more deeply into a bearish momentum. Volatility continues to maintain the market, and the future of the coin remains uncertain.