XRP is encountering significant resistance around the $3.35 price level following a recent rally, with analysts and traders watching closely as its ability to breach this barrier is seen as pivotal for its next major price move.
The cryptocurrency is currently trading at $3.21, having pulled back from a recent peak near $3.60. This places it directly below the key technical resistance zone identified at $3.35.
Technical indicators offer a mixed near-term outlook. The Relative Strength Index (RSI) currently sits at 56, suggesting a relatively neutral market sentiment. Potential downside support areas lie at the 50-day Exponential Moving Average (EMA) near $2.79 and the 100-day EMA near $2.46.
Failure to overcome the $3.35 resistance could trigger a retracement towards support levels around $3.05 or potentially $2.80. Conversely, a sustained daily close above the $3.35 trendline is viewed by analysts as critical for restoring bullish momentum, potentially opening the path for XRP to challenge its recent high near $3.60.
The market is now closely observing price action around this crucial technical threshold to determine the asset’s short-term trajectory.