XRP Price Must Break Key Resistance at $3 to Unlock New All-time Highs
The post XRP Price Must Break Key Resistance at $3 to Unlock New All-time Highs appeared on BitcoinEthereumNews.com.
Key takeaways: XRP (XRP) price is down by 7.6% on Tuesday to an intraday low of $2.80 from a five-month high above $3 on Monday. Analysts say the key resistance level at $3 must be broken to clear the path to new all-time highs. XRP price must flip $3 into support XRP’s 33% rally between July 8 and Tuesday was halted by resistance at $3. Bulls must now overcome the resistance at $3 to avoid a deeper correction. Historically, rejection from $3 has always preceded a significant decline in XRP price. For example, the last time the XRP/USD pair ran into resistance at $3 in March was followed by a 46% drop in price to a multimonth low of $1.61 reached on April 7. XRP/USD four-hour chart. Source: Cointelegraph/TradingView If XRP breaks $3, the next stop could be new all-time highs, said crypto analyst CasiTrades in a Tuesday post on X. According to the analyst, this level aligns with the macro 0.118 Fibonacci retracement from $3.40 and “reclaiming it would be another massive signal that Wave 3 is alive and accelerating.” Related: XRP price ‘highly rare’ setup eyes 60% gain past $3, veteran trader says CasiTrades said a breakout above $3, followed by a quick retest that confirms it as a new support, would see immediate continuation to $3.40 and beyond. “Once $3.40 (ATH) breaks, it will likely shock people how quickly this runs. There’s not much in the way after that. Expect it to be incredibly fast and volatile! ” XRP/USD three-hour chart. Source: CasiTrades As Cointelegraph reported, XRP price must break $3 to clear the path toward $3.40 and higher. XRP liquidation heatmap hints at $3.04-$3.14 The Binance XRP/USDT liquidation heatmap reveals key liquidity zones where large liquidation events may occur. These levels often act as magnets, influencing…
