The Ripple price is back in the spotlight this week after a strong bullish breakout pushed XRP to test a critical resistance zone near $3. This comes after Ripple successfully broke out of a prolonged descending wedge pattern, marking a significant shift in its market structure. As traders watch closely, the big question is whether the Ripple price can push past this barrier to target a new all-time high.
Over the past few weeks, Ripple has gathered strong upward momentum. According to CryptoPotato’s latest analysis, XRP recently climbed above its 200-day moving average — a key technical milestone that signals renewed investor confidence. This surge in the Ripple price has been fueled by bullish sentiment and increased trading volume.
However, the journey upward is now at a crucial crossroads. The $3 level, which aligns with a previous major swing high, has turned into a formidable resistance. So far, the Ripple price has struggled to break and hold above this mark, with some selling pressure triggering a minor pullback.
On the daily chart, XRP’s structure remains optimistic as long as it stays above the breakout zone and the 200-day moving average. Analysts point out that if the Ripple price can reclaim the $3 level convincingly, it could pave the way for a fresh rally toward a new record high. Failure to hold this level, however, could see the Ripple price consolidate or even retreat to key support areas.
Zooming in on the 4-hour chart, XRP previously broke above the $2.7 resistance — a level that had limited its price action for months. The breakout came with strong momentum, but the rally cooled as XRP hit the $3 ceiling. A healthy retest is now underway, with the Ripple price pulling back to around $2.7 to confirm this level as new support.
Technical traders are watching for signs of renewed buying interest. If buyers defend the $2.7 area, the next move could see the Ripple price challenge the $3 mark once again. Should momentum wane, the next cushion sits within the 0.5–0.618 Fibonacci retracement range, suggesting a deeper correction could unfold before XRP attempts another leg up.
Beyond technicals, market sentiment remains cautiously bullish. Investors are speculating on favorable outcomes in Ripple’s ongoing legal battles and potential adoption news that could impact the Ripple price in the coming months. Meanwhile, broader crypto market trends, including Bitcoin’s price action, are likely to influence XRP’s next big move.
In summary, all eyes are on the $3 resistance level. A strong breakout above this threshold could be the catalyst Ripple needs to aim for new highs not seen since its last peak. For traders and investors, the next few days could be decisive in determining whether the Ripple price can sustain its bullish momentum or faces another round of consolidation.
