XRP Price Prediction: Aiming for 3.30 resistance after breaking 3.20 USD, can XRP initiate a new round of pump?

The price of Ripple (XRP) successfully rebounded from the key support area near USD 2.950 and is currently stable above USD 3.20 and the 100-hour moving average. Technical analysis shows that the XRP/USD hourly chart has broken through the key bearish trendline resistance (USD 3.240), opening up space for a potential new round of pump. If the price can hold above the support level of USD 3.150, it is expected to challenge the target of USD 3.30 or even higher. This article analyzes the short-term trading strategies for XRP and key support and resistance levels, combining real-time market data and long-tail keywords.

【XRP price starts to recover, breaking through key resistance】 The price of Ripple (XRP) has successfully initiated a new round of pump after a pullback from the support level of $2.950. Currently, the price of XRP has stabilized above $3.20 and shows potential for further upward movement. Importantly, the price has successfully climbed above the level of $3.220 and the 100-hour Simple Moving Average (SMA), adding positive signals for the short-term trend.

【Technical Breakthrough: Bearish Trendline Breakout】 On the hourly chart of the XRP/USD trading pair, an important technical breakthrough has occurred - the price has successfully broken through the key bearish trend line resistance located at 3.240 USD. This breakthrough indicates that market selling pressure has eased, and buying strength is increasing. If the price can maintain above the 3.150 USD area, Ripple (XRP) is likely to accumulate energy for another upward trend.

【Price Trend Review: Stabilization and Rebound After Pullback】 Previously, the price of XRP performed worse than Bitcoin ( BTC ) and Ethereum ( ETH ), briefly falling below the support area of $3.250 and further probing below the support levels of $3.20 and $3.050. The deep correction even caused the price to briefly drop below the psychological barrier of $3.00, reaching a low of $2.959. However, the price has since rebounded from that low.

The current rebound has successfully recovered 23.6% of the Fibonacci retracement from the drop of the swing high at 3.650 USD to the low at 2.959 USD. Combined with the bearish trend line breakout mentioned above, as well as the price now standing above 3.250 USD and the 100-hour moving average, these factors together form a short-term bullish technical foundation for Ripple XRP.

[Upside Target: Key Resistance Level Outlook] During the pump, the XRP price may first encounter resistance around the 3.30 USD area, which is also close to the 50% Fibonacci retracement level of the aforementioned drop (from the 3.650 high to the 2.959 low). The first important resistance level is around 3.3850 USD. If the price can strongly break through the 3.3850 USD resistance level, it may further attack the 3.450 USD resistance area.

If buying pressure continues to strengthen, the XRP price is expected to challenge the 3.50 USD resistance in the short term, and even test the 3.5120 USD level. For the bulls, the next significant test will be the previous high resistance near the 3.650 USD area.

[Downside Risk: Potential Pullback Support Level Analysis] If XRP fails to successfully break through the 3.30 USD resistance area, it may face the risk of a pullback again. The initial support level is near the 3.20 USD level. More important support is in the 3.150 USD area.

If a downward breakout occurs and the price closes effectively below the $3.150 level, it may lead to a continuation of the downtrend, testing the $3.050 support level below. The next key support level is near the $3.00 round number.

【Technical Indicators Interpretation】

• Hourly MACD: The MACD indicator for XRP/USD is currently in the bullish zone, and momentum shows signs of strengthening.
• Hourly Chart RSI (Relative Strength Index): The RSI of XRP/USD has now risen above the 50 level, indicating bullish market momentum.
• Main support levels: 3.20 USD, 3.150 USD.
• Main resistance levels: 3.30 USD, 3.3850 USD.

【Conclusion】 Based on a comprehensive analysis of technical indicators and price trends, Ripple (XRP) has a positive short-term outlook after successfully holding the support at 3.150 USD and breaking through a key trend line. If it can effectively break through the resistance at 3.30 USD, a new round of pump may begin, targeting 3.3850 USD or even higher. However, traders should closely monitor the support strength in the 3.20-3.15 USD range to guard against the risk of a pullback due to a failed breakout. Cryptocurrency investors can formulate corresponding XRP trading strategies based on these key price levels. The market is constantly changing, so please stay updated on the latest market dynamics.