XRP Holds $3.20 as Market Eyes Potential Break Above $3.35
XRP (XRP-USD) is trading at $3.20, up 0.26% on the day after defending the $3.15 support zone. This marks a steady consolidation phase following a sharp spike earlier in the session to $3.33, which was met with profit-taking. Despite intraday volatility, buyers remain in control above the $3.15–$3.18 range, indicating healthy demand at lower levels.
The broader crypto market is seeing modest gains as traders await U.S. CPI data this week, which could influence short-term risk sentiment. XRP’s current structure suggests accumulation before a possible breakout attempt toward higher resistance zones.
Support and Resistance Levels
Immediate support lies at $3.15, which has held multiple tests in the past 48 hours. The next key downside level is $3.05, aligning with the 20-day moving average and representing a critical zone for maintaining short-term bullish structure.
On the upside, first resistance is at $3.33, the intraday peak, followed by $3.35–$3.38, where selling pressure has historically emerged. A confirmed daily close above $3.38 could open the door for a rally toward $3.50, and if momentum accelerates, a test of $3.65 becomes likely.
On-Chain and Institutional Flow
Recent on-chain data shows an uptick in transactions over $1M, indicating whale accumulation in the $3.10–$3.20 range. Meanwhile, institutional sentiment toward XRP is cautiously improving, supported by speculation that Ripple’s regulatory overhang could be resolved within the next year.
While XRP still trails Bitcoin and Ethereum in terms of derivatives market open interest, funding rates remain positive, signaling an underlying bullish bias from leveraged traders.
Technical Indicators
The Relative Strength Index (RSI) is currently at 59, suggesting bullish momentum without approaching overbought territory. The MACD remains above the signal line, showing steady upward pressure, while the histogram prints mild positive bars, hinting at gradual accumulation.
Price action remains above the 50-day moving average ($3.05) and the 200-day moving average ($2.82), reinforcing a medium-term bullish trajectory.
Trading Playbook for XRP
Short-term traders could look for entries near $3.15–$3.18 with tight stops under $3.05. Upside targets are $3.33 and $3.38, with an extension toward $3.50–$3.65 if bullish momentum builds post-CPI release.
For swing traders, a confirmed breakout above $3.38 would justify a long position targeting $3.50–$3.65, with risk managed below $3.15. Conversely, a close below $3.05 would weaken the setup and bring $2.95 back into play.
Verdict on XRP at $3.20
Rating: Hold with Bullish Bias. XRP’s consolidation above $3.15 and repeated tests of $3.33 resistance suggest growing bullish pressure. A breakout above $3.38 could ignite a rally toward $3.50–$3.65, while failure to hold $3.05 would neutralize the short-term bullish case.
