Well, here we are again. XRP is knocking on the door of $3, a price point that’s starting to feel a bit like an old, familiar wall. It’s managed to claw its way back above $2.85 after a bit of a stumble, which is something. But the real test is still ahead. Can it finally push through a ceiling that’s stopped every single rally for what feels like ages now? I’m not so sure.
A Look at the Bigger Picture
If you zoom out to the weekly chart, things get a bit messy. The price has been making these higher highs, which you’d think is a good sign. But then you notice the RSI, that momentum indicator, is doing the exact opposite. It’s been printing lower highs for weeks. That’s a classic bearish divergence. It basically means that while the price is going up, the energy behind the move is actually fading. It’s a quiet warning that a lot of traders are paying attention to, and it makes you wonder about the staying power of any rally.
The Battle Lines Are Drawn
Getting back above $2.85 was a big deal for the bulls, no question. That area had flipped from support to resistance, so reclaiming it is a psychological win. It sets the stage for another run at the big one: three dollars.
But that’s the tough part. There’s this descending line of resistance that just keeps smacking the price back down. It’s happened over and over. As of right now, XRP is testing that line once more. If it can somehow manage a clean daily close above $3, that would change the mood entirely. It could open the path toward something like $3.80, maybe. That’s a target some are drawing from a pattern on the chart.
I have to be honest, though. The path there is absolutely littered with obstacles. The zone between $3.00 and $3.10 is packed with old sell orders. And even if it miraculously gets through that, there’s another messy area waiting around $3.30. It’s not going to be a walk in the park.
What Could Go Wrong?
For all the talk about breaking out, the support level down at $2.75 is just as important. It’s held strong since the start of August. If that level gives way, the recent optimism would pretty much evaporate. A break below there would likely send XRP tumbling right back into its boring, sideways range that we’ve been stuck in for months.
So we’re at a bit of a standoff. The next few days are critical. A powerful breakout could finally get things moving. But another rejection at this level? That would probably just reinforce the idea that we’re not going anywhere fast. It’s a waiting game, and frankly, it’s getting a little old.
