XRP Tests $3.31 Resistance with Rising Volume
XRP is trading near $3.30, testing long-term resistance at $3.31 after a rally from the $3.00 support zone. Volume has picked up around the resistance level, echoing the late-2017 accumulation phase but at a more measured pace. Key moving averages, including the 20-day EMA at $3.07 and the 50-day EMA at $2.81, offer additional support. A daily close above $3.31 could trigger targets at $3.50 and $3.70. Failure to break resistance may prompt a pullback toward EMA levels or the $3.16 support. Traders should monitor XRP’s resistance, support levels, and volume trends for breakout confirmation and entry points.
Bullish
XRP’s test of the key $3.31 resistance with rising buying volume signals a bullish setup. In the short term, sustained volume above support at $3.16 could confirm upward momentum, potentially driving price to $3.50 and then $3.70. The 20-day and 50-day EMAs offer structural support, reducing downside risk on a pullback. Over the longer term, a successful breakout above $3.31 may attract further buying interest and establish a stronger uptrend. However, traders should note that failure to break resistance could trigger a correction back to EMA levels, though the overall outlook remains positive if volume trends hold.