XRP Tests Its Key Support as Market Stabilizes, Targeting $3

Ripple’s native cryptocurrency, XRP, has faced significant downward pressure over the past week, plunging 17% amid broader market turbulence.

Ripple’s native cryptocurrency, XRP, has faced significant downward pressure over the past week, plunging 17% amid broader market turbulence. The altcoin dropped to a low of $2.00 as Bitcoin slid to $82,000.

However, Bitcoin has since staged a strong recovery, which has helped to stabilize market sentiment and facilitate a relief rally.

As Bitcoin p surges, traders are now turning their attention to XRP, which is approaching a critical juncture in its short-term trend.

Key Levels to Watch For XRP

Crypto analyst EGRAG CRYPTO assessed the technical outlook for XRP in a 4-hour time frame analysis. According to the analyst, the main resistance level to watch is at $2.35. Breaking above this point could push XRP back into a bullish channel, indicating a potential continuation of the uptrend.

On the downside, $2.20 is an important support zone to keep an eye on. If this level holds, then it could facilitate a bounce and some stabilization in XRP’s price. However, a breakdown from this area might bring XRP back to test the $2.00 zone.

According to the analyst, the breakdown from the ascending triangle pattern suggests that a retest of the $2.00 is possible. However, traders should expect some wicking on the candle at this lower level, and it is unlikely that the price will stay at this level for an extended period.

Despite the short-term volatility, long-term projections for XRP remain bullish, with some analysts expecting the token to reach double-digit price levels in the months ahead.

Another well-known trader, Dark Defender, notes that XRP is completing an ABC correction pattern on the daily chart. Moreover, the Relative Strength Index (RSI) is approaching oversold levels, which could be a key indicator of an upcoming reversal.

If the token follows historical trends, this strong move from oversold levels could mark the end of the correction phase and the beginning of a strong upward move.

Based on wave analysis, the trader identifies the following targets and support levels for XRP:

* Initial breakout target: $3.00

* Next bullish targets: $5.00 – $8.00 (Wave 3–5)

* Crucial support: $1.88 – $1.91

* Resistance levels: $2.44, $2.99, and $5.85

Will XRP Break Out Or Face More Downside?

With XRP holding critical support and showing signs of an imminent reversal, the next few days could be pivotal. If the price manages to break above $2.35, it could confirm a return to bullish momentum.

However, a drop below $2.20 might extend the correction, with a possible retest of the $2.00 zone before rebounding.

As Bitcoin and the broader crypto market stabilize, XRP’s next move could define its trajectory for the coming weeks. Whether bulls regain control or further downside occurs, traders are on high alert for the next major price action.