XRP Today News: Ripple strongly holds above 3 USD, analysts warn of a potential pullback before hitting the 3.40 USD mark.

Ripple (XRP) has shown resilience in the recent market recovery, successfully holding the $3.00 mark on August 28 and attempting to confirm support. However, several analysts remind that while the technical outlook remains bullish, there is a possibility of revisiting the lower range point of $2.83 in the short term before a new round of upward momentum can be expected.

XRP Key Price Level Battle

(Source: Trading View)

Recent trend: In the past week, XRP has been consolidating in the range of $2.85–$3.10, after rebounding 7% to $3.08 from Monday’s low, it has fallen back to around $3.00.

Resistance Test: Analyst Ali Martinez pointed out that XRP is challenging the $3.10 resistance level for the third time, and similar historical situations have led to a pullback to the range low.

Support Risk: If the mid-level support is lost, the price may fall back to $2.83, or even break through the local range.

Technical Signals and Bullish Targets

(Source: Trading View)

RSI Bullish Crossover: Analyst Cryptoinsightuk believes that despite recent pullbacks, the structure remains intact, and RSI has shown a bullish crossover.

Breakthrough Condition: If the daily closing price rises above $3.14, it will lay the foundation for a push towards the $3.40 resistance level.

Short-term goal: If it breaks through the resistance at $3.10, the next step is expected to challenge the high range of $3.20–3.40.

The possibility of a trend reoccurrence in 2017

Historical Analogy: Analyst GalaxyBTC pointed out that the current trend of XRP is similar to that of 2017, when the price consolidated between previous highs and breakout levels, ultimately surging to a historical peak.

Key support conversion: In November last year, XRP turned $1.70 into support, consolidating between that level and the previous high for the past 8 months, suggesting that the upward momentum may not be over.

Potential breakout point: Once it breaks through the previous high and turns it into support, it could trigger a massive rally.

XRP/BTC Key Resistance Level

Long-term resistance zone: The 0.00003014 BTC area has become a key resistance level over the past 6 years.

Significance of the breakout: If XRP/BTC breaks through that level, it will bring a clearer price discovery space for XRP priced in USD.

Current Market Conditions

Current Price: As of the writing of this article, XRP is quoted at $3.02, up 3.3% for the week.

Market sentiment: Short-term bullish, but traders need to pay attention to the bidirectional risks of the $3.10 resistance and $2.83 support.

Conclusion

XRP is currently at a critical point of tug-of-war between bulls and bears. If it can hold above 3 dollars and break through 3.14 dollars, it is likely to challenge 3.40 dollars in the short term; however, if it loses support, it may first retest 2.83 dollars before looking for a rebound opportunity. Historical trends show that once it breaks through the long-term resistance level, XRP may welcome a large-scale market similar to that of 2017.