XRP Price Prediction: Successful Breakthrough at 2.92 USD Resistance Level, 3 USD Mark Becomes New Challenge

XRP price has recently accelerated its rise, successfully breaking through the resistance level of 2.92 USD. Currently, the price is experiencing a slight pullback and may find buying support around 2.92 USD. Although the XRP price has broken through 3 USD, it is currently facing strong resistance near 3.00 USD. Analysts believe that if the Token can maintain above 2.92 USD, it is expected to continue its pump.

Bullish Outlook: If the Key Support Level Holds, the Price is Expected to Continue to Rise

After forming a bottom above 2.8320 USD, the price of XRP has initiated a new pump, outperforming Bitcoin and Ethereum. The price once surged to a high of 3.0365 USD and is currently undergoing a pullback for profit-taking.

• Main Support: If the bulls can hold the 2.92 USD support level, the price may attempt to rise again. On the downside, the initial support level is around 2.9350 USD. The next major support level is at 2.92 USD, which coincides with the 50% Fibonacci retracement level of the rise from the 2.794 USD low to the 3.036 USD high.
• Main Resistance: On the upside, the XRP price may face resistance around $2.980. The first major resistance level is at $3.00. If it can clearly break through $3.00, the price is expected to rise to $3.0350, and any further pump could push the price towards $3.120, with the next major hurdle around $3.150.

Bearish Risk: If the rebound fails or further declines

If XRP fails to break through the 3.00 USD resistance level, it may continue to move downward.

• Downside Risk: If the price breaks down and closes below 2.92 USD, it may continue to drop towards 2.860 USD. The next major support is near the 2.850 USD area, and if this level is breached, the price could gain more bearish momentum.

Technical Indicators

(Source: TradingView)

• Hourly Chart MACD: The MACD indicator's momentum is weakening in the bullish zone.
• Hourly RSI: The RSI indicator is currently around 50.
• Main support levels: 2.9350 USD and 2.920 USD
• Main resistance levels: 2.980****dollars and 3.00 dollars

Conclusion

The recent price movement of XRP highlights the ongoing battle between bulls and bears around the key psychological level of 3.00 dollars. The outcome of this battle will be an important indicator of its short-term trend. Although the current market structure suggests potential for further pump, if it fails to break through resistance, price momentum could quickly reverse.