XRP approaches the psychologically significant $3 resistance level following a recent 30% price surge, though technical indicators suggest bullish momentum may be waning. The cryptocurrency is currently consolidating near this key threshold, which has historically acted as a major barrier for price advancement.
Technical analysis reveals concerning signals, with the Relative Strength Index (RSI) exceeding 80. This indicates severely overbought conditions that typically precede corrective price movements. Market analysts note that failure to decisively break through the $3 resistance could trigger a near-term pullback.
Traders and investors are advised to monitor XRP’s ability to establish stability above the $3 level before considering new positions. Volume analysis remains crucial for assessing the sustainability of any potential breakout, as declining trading activity could reinforce bearish reversal patterns.