XRP Approaching Breakout. Here’s What to Watch For

XRP is currently locked in a tight consolidation range just beneath a critical resistance level, setting the stage for a potentially explosive breakout. As of report time, XRP is trading around $3.01 after briefly reclaiming the psychologically important $3.00 zone earlier in the day. This move comes after a series of failed attempts to break through the $2.96 level, identified by analyst CasiTrades as the 0.382 Fibonacci retracement mark, which has acted as a firm ceiling for over 20 hours. Key Levels Driving Market Sentiment The market is coiling tightly between $2.915 and $2.96. The lower boundary at $2.915 corresponds with the 0.5 Fibonacci retracement from XRP’s recent low at $2.72. According to CasiTrades, this support has proven resilient, with buyers stepping in repeatedly to defend it. XRP Approaching Breakout – What to Watch For! $XRP is currently hovering just below the key $2.96 level. The .382 Fibonacci retracement. For about 20 hours, this level has been strong resistance, capping all bullish attempts. Local support is at $2.915, which marks the… pic.twitter.com/Kli21RvZSA — CasiTrades (@CasiTrades) August 6, 2025 Structurally, there has been no breakdown in price action . Instead, the chart continues to suggest that the market is consolidating just under resistance, building momentum for what could be a sharp upside move. Importantly, short-term charts are still printing bullish divergence on the RSI. This indicates that, despite a minor lower low, sellers are losing strength and a new downtrend is not yet forming. The RSI signal, coupled with strong support at the .5 retracement, suggests that bullish energy is accumulating. The $2.96 resistance level has thus become the fulcrum of attention. A confirmed breakout above this line, particularly if retested and held as support, would be a strong technical signal that the bulls have regained control. Momentum Building Ahead of Key Breakout Zones If $2.96 is reclaimed and flipped to support, traders and analysts alike will turn their focus to the next upside targets—$3.21 and $3.41. These levels represent historical resistance and Fibonacci extension areas from previous impulse legs. A clean break of these points could open the door to higher targets, with $3.65 and even $4.40 seen as potential medium-term objectives, especially if ETF narratives and broader market sentiment continue to turn in XRP’s favor. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Adding to the bullish case is the broader context of strong whale accumulation and reduced exchange inflows, signaling long-term confidence among large holders. Over the past month, XRP has gained nearly 35%, supported by legal clarity surrounding Ripple’s operations and increasing speculation around institutional interest, particularly following SBI Japan’s recent filing for an ETF that includes XRP exposure. The Moment of Truth Despite the bullish momentum, the market remains at a decision point. Failure to reclaim $2.96 would likely result in more range-bound trading, and a breakdown below $2.915 could expose the token to further retracement towards $2.80 and $2.65. These lower zones align with key volume-weighted average price (VWAP) levels and longer-term trend support, making them critical to maintaining XRP’s broader bullish structure. XRP’s price is approaching a crucial inflection point. The market has consolidated within a narrow range, with bulls defending support and repeatedly testing resistance. According to CasiTrades, all signs point to a potential breakout if $2.96 can be reclaimed and held. With bullish RSI divergence, structural integrity, and growing institutional interest , XRP’s next move could define the direction of its next major leg. For now, all eyes remain on whether the bulls can flip resistance into support and ignite the rally toward the next key levels at $3.21 and $3.41. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Approaching Breakout. Here’s What to Watch For appeared first on Times Tabloid .

Source: TimesTabloid