XRP (XRP-USD) has been locked in a 40-day slide since topping at $3.66 in July. The token’s repeated failure to hold the $3.30 level has left traders wary that resistance had hardened into a ceiling. The first two breakout attempts fizzled, turning that price into a line of frustration for bulls.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Now, momentum is shifting again. XRP just printed a bullish engulfing candle, a sign that buyers may be regaining control. If price can finally reclaim $3.30 with sustained conviction, traders say it could indicate the start of a new run that puts new all-time highs back in sight.
Technicals Point to One More Push Higher
XRP charts show a breakout from a symmetrical triangle. Traders see this as a sign the rally could continue. Analysts tracking Elliott Wave counts say the token just finished its fourth corrective phase and has entered the final fifth phase. That scenario points to upside between $4.10 and $4.24, with extensions stretching as high as $4.87 if momentum snowballs.
Support is visible at $2.95, where XRP has repeatedly attracted buyers during the summer chop. As long as price stays above that cushion, the broader structure tilts bullish. A confirmed close above $3.30 would unlock the higher Fibonacci targets at $3.59, $4.63, and $5.67 that traders have been mapping for weeks.
XRP’s Momentum Indicators Stay Neutral
Even though XRP has picked up lately, not every indicator is showing strength yet. Both the Relative Strength Index and MACD remain stuck in neutral territory, neither confirming a strong rally nor hinting at breakdown. Traders are watching closely to see if these indicators turn higher in sync with price.
The lack of confirmation keeps the risk of another rejection alive. A failed third attempt at $3.30 would re-open the door to $2.75 and even $2.50 on the downside. But with the structure coiling and wave counts pointing higher, many believe the odds now favor bulls.
XRP Prepares to Outrun Ethereum
XRP has also lagged badly against Ethereum since March, losing more than half its value in that pair. But the ETH ratio is now testing major Fibonacci and horizontal support around 0.0006, a zone that lines up with bullish divergences on both RSI and MACD.
If this support holds, XRP could begin reversing months of underperformance and reclaim leadership among altcoins. A bounce against ETH would add fuel to the dollar pair and strengthen the case for new highs. The next real test sits at $3.30, and what happens there will decide whether this rebound has legs.
A decisive break above $3.30 would confirm that the 40-day downtrend is over and that a run toward $4 and beyond is underway. Failure at this level risks prolonging the sideways churn that has frustrated bulls since July.
Essentially, traders may need to defend support near $2.95, push through $3.30, and then momentum may do the rest.
At the time of writing, XRP is sitting at $3.0128.
