XRP Testing Key $2.80 Resistance: Will It Surge to $3 or Face Rejection?

Ripple’s XRP is trading above $2.69 and displaying an increase in value by 6% in the last 24 hours. The cryptocurrency is currently in the process of testing the $2.65 to $2.80 range which has been previously rejected multiple times. In this area, analysts have closely focused their attention because its breakthrough will predict the further upward movement of the XRP. If the resistance at $2.80 is broken and turned into support, the next big level after that would be around $3.

Key Developments and Overview of Current Market Activity

Currently, XRP has been trading around $2.69, and analysts have stressed on the $2.65 to $2.80 as a particular zone of resistance. This particular price range has had the effect of rejection in the past and is,, therefore,, an extremely sensitive level in relation to XRP’s price action. In particular, the price value of Ripple, if it decides to surge beyond $2.80, can be inclined to the $3 price level of resistance. However, if it faces another rejection, the token might drop to support zones, which are $2.50 and the main one at $2.25 to $2.30.

XRP’s Long-Term Bullish Trend

If the price manages to move above $2.80, this may form cup and handle formation, a technical pattern viewed as bullish. However, this formation is not yet confirmed, and the formation that is revealed in the succeeding sequence B belongs to a different stratigraphic layer. The confirmation of the pattern requires XRP to cross and maintain a price above $2.80 on the daily time frame. If true, it could go as high as $ 3.37 a point that is almost comparable with the highest point it has been in the market.

The crypto analyst for CrediBULL Crypto provided directions of the movement on the charts and said that a drop to the $2.20 or even $1.77 level seems likely, still, overall, the picture on the HTFs remains positive. This serves to show that token’s long term trend remains upbeat even during a pullback phase.

Whale Activity Boosts Market Sentiment

According to data from Santiment, the large holders of XRP, commonly referred to as whales, have been buying into the token in larger numbers recently. Over the last two days, these whales have purchased 150 million token which is equivalent to $388 million. This accumulation indicates the whales see the current price as undervalued and may be preparing for a large increase. The activity supports the general positive sentiment in the market, which breakout continues; whales load up the amount they want to have.

Derivatives Market Insights

A correlation between the derivatives market and XRP’s bullishness has been clearly evidenced. Over the past 12 hours, short-term liquidations of $2.83 million occurred, with short $2.15 million. This means that the markets are flipping to longs, which affirms the belief that XRP will see further upsurge in the near future.

OI-Weighted Funding Rate

The OI, funding rate, and the OI-weighted funding rate are moving upwards, which indicates that the market sentiment is moving up for XRP. With an increased funding rate, there is a greater probability that the market will support for a higher price in the future which in turn supports the rallying signal for XRP.

XRP’s Path to All-Time High

The journey of XRP towards achieving the $3.37 level, which was the peak it had attained earlier, hence keeping on this journey is important. At this price level, there are $15.86 million worth of sell orders that may delay XRP’s progress and push it to retreat a bit. However, in case of over-time continuity of this bullish trend, these sell orders can be said to be bought, giving way to the continued upward trend of XRP.

Conclusion

XRP has gained a lot of ground recently and is now in a critical region with further outlook dependent on the $2.65-$2.80 range. As accumulation begins for whales, more positive market sentiment, and the possibility of a breakout to above $2.80, cryptocurrency is set to go higher. However, traders should retain some margin of doubt because higher levels of trend resistance work in 

bringing about brief reversals.

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Frequently Asked Questions (FAQ)

1- Why is $2.65–$2.80 important for XRP?

It’s a key resistance zone; breaking above it could signal further gains towards $3.

2- What is the cup and handle pattern for XRP?

A breakout above $2.80 could trigger a bullish pattern, aiming for $3.37.

3- How does whale activity impact XRP?

Whales buying large amounts suggest they see the price as undervalued, possibly fueling a rally.

4- What does the funding rate imply for XRP?

An increasing funding rate points to bullish sentiment, suggesting XRP may rise further.

Appendix: Glossary of Key Terms

Resistance Zone – A price level where an asset struggles to rise above due to selling pressure.

Cup and Handle Pattern – A bullish chart formation that signals potential price breakout.

Whales – Large holders of a cryptocurrency who can significantly influence the market.

Funding Rate – The interest paid by one party to another in a derivatives contract, indicating market sentiment.

OI-Weighted Funding Rate – A metric combining open interest and funding rates to predict market direction.

Sell Orders – Orders placed to sell an asset, often influencing price resistance levels.

References

AMB Crypto – ambcrypto.com

CoinPedia – coinpedia.org

Santiment : santiment.net

CoinGlass – coinglass.com

CoinMarketCap – coinmarketcap.com