XRP Price Analysis: Key Support and Resistance Levels

XRP continues to trade within a larger sideways range, showing a lack of clear directional momentum. The cryptocurrency remains bounded between the $1.96 level—previously a significant breakout point in 2021—and the $3.40 resistance zone. This range has defined XRP’s price action, with market participants watching closely for a breakout or breakdown that could signal the next major move.

Critical Resistance Levels

• $3.40: This level represents a major resistance zone where selling pressure has historically increased. A successful breakout above $3.40 could indicate renewed bullish momentum, potentially pushing XRP toward new highs.
• $1.96: Previously a breakout level, this price point now serves as a key resistance-turned-support level within the broader range. If XRP manages to reclaim this level, it could signal strength and a potential move higher.

Key Support Levels

If the market continues to decline, XRP has several important support levels that traders should monitor:

• $2.23: This level represents the 100% extension of the immediate down move, making it a crucial point for potential buyers to step in. Holding above $2.23 could indicate stabilization, while a break below it may trigger further downside.
• $1.96: Acting as both a support and resistance level in the past, $1.96 is a significant psychological and technical zone. If XRP falls below this level, selling pressure could intensify.
• $1.23: A deeper support level that could serve as a potential bottom in case of an extended decline. If XRP reaches this zone, it may attract long-term buyers looking for discounted entry points.

Market Outlook

Currently, XRP remains within a consolidation phase, with no clear breakout or breakdown. If the price moves above $3.40 with strong volume, it could signal the start of a bullish trend. However, a drop below $1.96 and especially $1.23 could indicate increased bearish pressure.

Traders should keep an eye on overall market conditions, including Bitcoin’s price movements, as they often influence XRP’s trend. Additionally, factors such as regulatory developments and broader cryptocurrency sentiment could play a crucial role in determining XRP’s next major move.

For now, XRP remains range-bound, and investors should watch for key price reactions at the outlined support and resistance levels. A break outside this range will likely dictate the next major trend.