XRP Price Could Hit $3 If It Clears This Resistance: Analysts

Key Insights:

• XRP price rebounds from $1.908 and reclaims $2.19, triggering a wave 3 breakout signal.
• Whale accumulation was confirmed as Binance and Upbit XRP reserves dropped sharply.
• Analysts target $2.69 and $3.00 zones after breaking $2.145 support-resistance flip.

XRP price has broken through the $2.19 barrier after rebounding from a local low of $1.908. Liquidity is thinning above key price levels, hinting at upward movement.

At the same time, whales are increasing their control over supply. The next potential resistance areas that traders and analysts are eyeing are $2.69 and $3.00.

Exchange Reserves Decline, Supporting XRP Price Bullish Case

On-chain data from CryptoQuant confirmed a sustained decline in XRP balances held on major exchanges like Binance and Upbit.

Since early April, XRP reserves on Binance have dropped steadily, with Upbit showing a parallel trend. Interestingly, they are not balanced with matching inflows, meaning there has been steady withdrawal activity.

This trend indicates accumulation, with big holders transferring coins to cold storage or custodial wallets. During a bullish market, declining exchange reserves typically indicate diminished sell pressure.

The reduced supply of tokens to be sold right away can cause any slight buy pressure to initiate an uptrend.

In the meantime, the decrease in the reserve corresponds to a shift in trend. As XRP price consolidated under $2.00, wallets began gradually exiting exchanges, suggesting quiet accumulation.

At $1.908, just into the major Fibonacci zone, buyers have taken quick action, front-running an even steeper decline. The trade was fast and clean, and there was little volatility. This affirmed strong buyer interest.

Structure Flip Confirms XRP Price Breakout Toward $2.69

The technical configuration after the reclamation of $2.19 is a significant change. Analyst CasiTrades termed the pattern a completed fakeout-drop, inverted triangle breakout at the 1.618 Fibonacci extension. This break reversed the market formation to be bullish.

Notably, XRP has risen through the mid-range and surpassed prior highs, devoid of the rejection wicks. The breakout showed strong momentum in the market. XRP price kept climbing, forming both higher lows and higher highs.

At the time of writing, XRP is found to be resistant at $2.25. It correlates with the 0.382 Fibonacci retracement of the macro swing high.

A strong daily close above this zone could trigger the next upward move. XRP price may target the confluence area between $2.60 and $2.69.

The $2.145 level now acts as short-term support. Past resistance has flipped in the ongoing rally. Retaining this zone would sustain bullish control and enable it to carry on.

Technical indicators like RSI are also healthy, with a 1-hour time frame reading of 67.79. It is slightly below the oversold level and allowing bulls to push onward.

XRP Liquidity Pool Cleared, Path Opens to $3.00

With the $2.00–$2.20 range behind, XRP price had cleared a significant liquidity pool. The heatmap provided by TradingLite demonstrated that the subsequent sell-side-interest stacks are between $2.40 and $2.65.

Although minor resistance can emerge in this zone, the general structure will provide a bullish continuation. Analyst Mr. Xoom believes absorbing the $2.65 zone is a key step for XRP.

Once that happens, the XRP price could quickly move toward the $3.00 psychological level. Historically, the region between $2.69-$3.00 has a thin resistance region with little trading.

Volume also confirms this bullish analysis. Following the breakout, inflows to XRP spot markets increased, with Binance and Bybit leading the surge.

Additionally, the order book indicates that sellers have been unable to replenish overhead walls. This indicates burnout of the supply side.

XRP Price Breakout Trend

However, unlike previous failed rallies, this one stands out due to the nature of the move. Instead of a slow climb or a reactionary rebound, the XRP price surged impulsively from the $1.908 level.

There was no hesitation in presenting the pivotal support point. This indicates that the buyers were ready, and many were front-running the anticipated zone.

The trend remains intact as long as the XRP price holds above $2.145. Analysts will turn to the next 48 hours to confirm, particularly should volume hold up and the break above $2.69.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.