XRP Retests $2.79, Eyes $3 Breakout & Long-Term Rally
XRP retested its key $2.79 support, bouncing from the 0.5 Fibonacci retracement and confirming the bullish wave structure. XRP trades near $2.82 with critical resistance at $2.97 (0.854 retracement) and $3.00 (0.382 retracement). A sustained break above $3.00 would signal a fresh uptrend, while failure risks a deeper pullback to $2.58.
The recent retest is bolstered by an ascending channel pattern seen in 2017 and 2021, suggesting accumulation before major rallies. Weekly closes above the Bull Market Support Band will keep the long-term bullish structure intact, targeting $15–$33 by late 2025.
Neutral RSI indicates room for either breakout or correction. Traders should wait for clear confirmation at these Fibonacci levels and monitor RSI signals before adjusting exposure.
Bullish
The successful retest of the $2.79 support and rebound from key Fibonacci levels underpin a bullish outlook. Breaking and holding above the $2.97 and $3.00 thresholds would confirm short-term momentum and unlock potential long-term gains toward $15–$33 by late 2025. The ascending channel pattern and weekly closes above the Bull Market Support Band further reinforce this case. However, traders should remain cautious, as failure to clear these levels could lead to a pullback to $2.58.