XRP Price Prediction: Seeking a Rebound After Falling Below $3.20, Follow Key Resistance at $3.18 for Breakthrough

Ripple (XRP) has recently experienced a downward correction, breaking below the key support area of 3.20 USD. The current price is attempting to recover and rebound, and whether it can successfully break through the resistance at 3.18 USD and above has become the focus of short-term traders. This article analyzes the potential trend of the XRP/USD trading pair in conjunction with technical indicators, providing key support and resistance levels for crypto assets investors, and exploring the possibilities of short-term trading strategies.

XRP price falls below key support The price of Ripple failed to follow the strength of Bitcoin and Ethereum, launching a new round of correction after falling below the $3.30 area. The price consecutively lost important support levels of $3.250 and $3.220.

Deep Pullback and Initial Stabilization This round of decline caused the XRP price to fall below the 50% Fibonacci retracement level of the upward movement from the swing low of 3.004 USD to the high of 3.330 USD. Bears even managed to push the price down below the support area of 3.120 USD at one point. Ultimately, bulls began to appear around 3.080 USD, providing support. The price successfully found support near the 76.4% Fibonacci retracement level of the upward movement from the low of 3.004 USD to the high of 3.330 USD.

Technical Breakthrough and Recovery Signs Recently, a positive technical signal appeared on the hourly chart of the XRP/USD trading pair: the price broke through the bearish trend line at the resistance level of 3.120 USD. This provides initial technical basis for a potential Rebound.

Current Pattern and Key Resistance Currently, the XRP price is operating below the 3.20 USD mark and the 100-hourly SMA. On the upside, the price may encounter resistance around 3.170 USD first. The first major resistance level is near the 3.20 USD level. If the price can clearly break through and stay above the 3.20 USD resistance level, it may push further towards the 3.250 USD resistance area. Sustained buying could even push the price up to the 3.330 USD resistance level, with a potential challenge of 3.350 USD in the short term. For bulls, the next important target area is around 3.40 USD.

Potential Downside Risk However, if XRP fails to successfully break through the 3.20 USD resistance level, it may face the risk of another fall.

Support Analysis Below The preliminary support level in the downward direction is around 3.080 USD. The next major support level is at the 3.020 USD level. If a downward breakout occurs and the price closes below 3.020 USD, the downtrend may continue, further testing the 3.00 USD support level. The more significant support area is near 2.980 USD, which may become a battleground for bulls trying to organize defense.

Technical Indicator Interpretation

• Hourly MACD: The MACD indicator for XRP/USD is currently still in the bearish zone, but its downward momentum is weakening.
• Hourly Chart RSI (Relative Strength Index): The RSI indicator for XRP/USD has now risen above the 50 level, indicating an improvement in short-term momentum.

Key Price Level Summary

• Main support levels: $3.080 and $3.020
• Main resistance level: $3.170 and $3.20

Conclusion: The price of Ripple is at a critical technical node. Breaking through the 3.20 USD resistance will open up new upside potential and attract more Crypto Assets buying; conversely, if it falls under pressure, it is necessary to closely monitor the defense strength of the 3.080 and 3.020 USD support levels. Short-term traders should dynamically adjust their strategies in conjunction with real-time market conditions and the aforementioned key levels and technical indicators (MACD, RSI). The crypto market is ever-changing, and investors should manage risks accordingly.