XRP is back in familiar territory, trading below the $3 zone, but an analyst suggests the asset is likely to see renewed momentum after a short-term correction.
At press time, XRP was changing hands at $2.97, down 1.2% in the past 24 hours, though it remains up more than 4% on the weekly chart.
According to pseudonymous cryptocurrency analyst CoinsKid, XRP is facing long-term resistance at $3.37, which marks the upper boundary of its current range.
A decisive breakout above this level could trigger price discovery and open the door for further upside. Until then, XRP remains in consolidation, with the possibility of retesting support levels before any breakout attempt.
On the downside, immediate support sits at $2.73, while a deeper pullback could extend to the $2.37 zone, identified as a critical level for a potential final shakeout. A failure to hold there could bring the macro bullish support at $1.90 into play, which remains the long-term foundation for XRP’s uptrend.
The analyst also noted that September has historically been a month of heightened volatility in crypto markets. As such, the current structure suggests traders should prepare for both scenarios: a push toward new highs if resistance breaks or one last correction to test key supports before the broader bull trend resumes.
XRP’s targets above $3
Meanwhile, analyst Ali Martinez noted in a September 9 X post that XRP is testing a critical resistance level within a descending triangle pattern that has been in play for several weeks.
According to his outlook, a breakout above this resistance could send XRP toward $3.60, aligning with the 0.618 Fibonacci retracement level. In the near term, however, XRP would first need to clear the $3.10 and $3.20 range before confirming momentum toward higher levels.
On the flip side, failure to break out could see XRP continue consolidating within the triangle, with $2.70 acting as the key support level.
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