- XRP holds near $3.00 after rejection at $3.10, making this level the key pivot zone.
- ETF progress and institutional interest strengthen outlook, with XRPR ETF attracting $77.6M in assets.
- Technicals show XRP above 1W 50 EMA at $2.77, supporting ongoing structural strength in the market.
XRP is trading near $3.00 after forming a strong double bottom pattern that led to an upward breakout. The price advanced above $3.00 before meeting resistance around $3.10, where sellers temporarily halted momentum. The current market focus remains on whether XRP can hold the $3.00 level to confirm further gains or slip toward lower supports near $2.90 and $2.80.
XRP Faces Rejection After Double Bottom Formation
According to analysis prepared by BitGuru, XRP’s 4-hour chart shows a clear double bottom structure that triggered a bullish move earlier in the session. The breakout above $3.00 confirmed the pattern, but rejection near $3.10 created short-term pressure. The $3.00 area has now become a decisive pivot point that will determine the next directional move.
BitGuru stated that “price action around the $3.00 zone will decide whether bulls regain control or sellers push it lower.” Technical indicators show that XRP maintains higher lows despite the pullback, suggesting steady accumulation. The RSI reading near 54 remains neutral, giving room for potential upside continuation if buying volume increases.
According to Coingecko, XRP traded at $3.00 after weekly gains of 7.6%, with a 24-hour range between $2.99 and $3.09. Its market capitalization reached $179 billion, supported by over $5.43 billion in daily trading volume. The cryptocurrency holds third position by market value, reflecting sustained liquidity and investor interest.
ETF Progress and Market Strength Support Bullish Outlook
Broader market momentum continues to favor altcoins as Bitcoin trades above $123,000. XRP’s short-term bullish target ranges between $3.30 and $3.50, while the 52-week high sits at $3.55.
ETF developments have further improved sentiment. The SEC is close to approving multiple spot XRP ETFs from Franklin Templeton, Invesco, and BitWise. The recently launched XRPR ETF already holds $77.6 million in assets, indicating growing institutional participation.
According to an observation by Annbessa, XRP remains above the one-week 50 EMA at $2.77, showing continued structural strength after a six-year consolidation phase that preceded the 2024 bull breakout.
