- XRP must reclaim $3.30 resistance to avoid decline toward $2.60 or even $2 support.
- Whale transfers and sell pressure weigh on XRP, but $2.96 support shows early strength.
- RSI near oversold and breakout patterns suggest potential rebound if $3.20 is reclaimed.
XRP is trading at $2.97 after briefly slipping below the key $3.00 level earlier today. Analysts warn that the token must reclaim $3.30 soon to avoid a possible downturn toward $2.60 or even $2. Technical indicators and whale activity suggest that traders should prepare for further volatility in the short term.
XRP Price Action and Key Levels
The cryptocurrency reached highs near $3.50 in July before correcting to current levels. According to an observation by Ali Martinez on X, “$3.30 is pivotal in determining XRP’s price behavior.” He added that failure to retest this level could trigger a decline to $2.60 or lower.
On-chain data shows a sharp increase in whale-to-exchange transfers on Binance. This pattern often signals rising sell-side pressure in the market. At the same time, XRP remains above the $2.80 support, which was earlier described by Martinez as critical for preserving a bullish structure.
Casi Trades noted that XRP hit its $2.96 support “with a textbook bottom” after wicking down to $2.94. The analyst observed bullish divergences on lower timeframes, suggesting that buyers may be regaining strength. This level could provide a foundation if market demand continues to build.
Market Structure and Wider Context
XRP has recently tested the lower Bollinger Band near $2.95, showing that bearish pressure remains. However, the RSI is nearing oversold levels, and analysts see a possible rebound if momentum shifts. XRP must break above $3.20 to move back toward $3.30 and reestablish a bullish stance.
According to analysis prepared by Galaxy, XRP has broken out of a smaller triangle following a larger consolidation pattern. The platform expects the token to consolidate near $3 before an upward move.
Meanwhile, Bitcoin’s movement around $112,000 support could also influence XRP’s trajectory. The token remains 22% below its all-time high of $3.84 from 2018. With the SEC case resolved, analysts believe XRP is better positioned for growth if it can hold key support.
