Despite recent volatility and price swings, XRP has remained firm above critical support levels, with technical indicators suggesting a possible breakout. Crypto analysts who closely monitor momentum on the daily time frame, particularly the Relative Strength Index (RSI), indicate that XRP bulls are regaining strength, paving the way for a potential move above the $ 3.60 mark.ย
RSI Turns Bullish As XRP Eyes Higher Levels
In his latest analysis on X social media, crypto market expert Dark Defender noted that XRPโs price structure is holding steady above essential support zones, with the $2.85 level emerging as a pivotal point in the current cycle. Previously identified as strong support, $ 2.85 has now flipped into a resistance barrier.ย
Related Reading
A sustained push above this threshold could unlock a path toward $3 and beyond, ultimately setting the stage for a potential retest of the $3.6 weekly resistance line. At the time of writing, the price of XRP is $2.87, meaning a surge above $ 3.60 would represent a significant increase of more than 25%.ย
On the daily chart, XRP has completed a corrective ABC pattern, with the recent bounce from the $2.74 level marking the start of a new upward wave. The RSI indicator has begun trending upward from oversold conditions, signaling renewed buying momentum. This bullish divergence strengthens the case for a potential breakout rally, provided that price maintains its footing above the retracement levels of 23.6% and 38.2%.ย
Currently, momentum indicators suggest that XRPโs next target lies in the $2.85 and $3 zone, with the possibility of a stronger increase if volume supports the move. Dark Defenderโs analysis underscores that although XRPโs price action remains slow and consolidating, its structure continues to align with bullish technical signals, reinforcing expectations of further upside in the near term.ย ย
Analyst Signals Caution As XRP Exchange Reserves Spike
Crypto analyst Greg Miller has announced on X that XRP exchange reserves have surged to a one-year highโa development often interpreted as a sign of selling pressure. Sharp increases in reserves typically suggest that more tokens are being moved onto centralized platforms, with investors possibly preparing for liquidation.
Related Reading
The CryptoQuantโs chart reveals a clear divergence between XRPโs exchange holdings and price action. While the cryptocurrency is consolidating around the $2.7 to $2.9 range, the sharp uptick in reserves reflects growing caution among investors. Historically, similar trends have preceded price corrections, and XRPโs earlier breakdown from the $2.74 level confirms that bearish momentum has not fully dissipated.ย
According to Miller, the surge in reserves introduces a significant risk in September. While some technicals favor an upside breakout, the heavy supply in exchanges could cap gains prematurely, stalling any meaningful rally. Without a surge in demand to absorb inflows, Miller argues that XRPโs recovery toward $3 or higher remains unlikely.
Featured image from Getty Images, chart from Tradingview.com
