XRP is currently trading above the psychologically significant $3 mark, exhibiting strong bullish momentum that propelled its price upward. This level holds substantial importance for traders and signifies a major technical breakthrough.
However, increased exchange activity suggests holders might be considering profit-taking. Over 600 million XRP were withdrawn from exchanges in a recent five-day period, a pattern historically linked to intentions for long-term holding. Conversely, exchange balances significantly increased from 3.3 billion to 4.4 billion XRP as the price moved past $3 in July, often interpreted as potential preparations for selling.
Key technical levels are now crucial. Support sits near $2.96–$2.93, a potential retest zone, with the critical support level at $2.80 essential for maintaining the bullish structure. Failure to hold this level could indicate a pullback.
On the upside, a sustained close above $3.185 could target resistance levels at $3.25 and $3.33. A decisive break above the $3.45 resistance zone might pave the way for XRP to challenge its all-time high, though current exchange dynamics introduce caution.