XRP Price Action & Resistance

As of press time, Ripple token is trading at $2.75, showing a 1.25% declibe over the past day.. For a breakout to be confirmed, the price of cryptocurrency has to go above the swing high of $2.80, as was experienced on February 4. Otherwise, there could be further struggle in the market and the continuation of the resistance.

A popular crypto trader known as Crypto Busy has highlighted an interesting aspect of XRP's price history. He noted that many overlooked the fact that XRP traded below $0.80 for five years before finally breaking out above $1 and reaching new highs in 2024. He also mentioned that XRP's prolonged legal battle with the SEC was a major factor contributing to its lower prices in the past.

People forget that $XRP was below $0.80 for five years before it broke out above $1 and broke new all-time highs in 2024. But the only problem at that time was its case against the SEC.

Right now, with $ETH, why do you think its price is not moving? pic.twitter.com/gMnFw2J218

— Crypto Busy (@CryptoBusy1) March 11, 2023

XRP Price Action & Resistance

At the time of writing, the Ripple token was trading down 1.25% over the past 24 hours at $2.75. For a breakout to be confirmed, the cryptocurrency's price would need to rise above the swing high of $2.80, last seen on February 4. Failing to do so could result in further market struggle and continuation of the resistance.

On lower time frames, the price was seen fluctuating around another support zone at its current price level. XRP's resistance levels are at $2.96 and $3.30 if it does manage to rise past $2.80. According to the expert, if the rally is corrective, then the price can't go too far past the previous high. However, the market will have to decide if the pullback is complete and the uptrend is sustainable once it crosses the $3.30 level.

XRP/USD 4 Hour Chart Source: TradingView

XRP Bullish Outlook

If the price does move lower to the support level, some traders might be looking to open pullback positions at this level. However, if the XRP/USD pair does manage to break through it, the next resistance level to watch would be at $3.40. A bullish price target can be attained if the price rises further, touching the January high at $3.40. This would put the coin on course to the upside at 4.21 or higher within a five wave structure. After such a rally, a strong correction would follow without a doubt.

Despite the bullish potential, there is still significant resistance ahead for the Ripple token. As such, a bearish pullback to the support level remains a possible outcome before another attempt at further price increase to the upside. For this reason, the best approach to making future movements of the token will depend on how the coin manages to break those crucial barrier levels and hold the trend.