XRP Trades Above $3 Amid Resistance at $3.3774 Preventing Breakout

XRP is trading above $3 after consolidating around $2.8, though it hasn't confirmed a close above $3 yet. Technical analysis highlights a resistance at $3.3774 as crucial for potential price discovery.

Resistance and Price Discovery Potential

XRP's upward movement is hindered by a resistance line at $3.3774.
Breaking this line could lead to price discovery, with no previous highs as reference.
The current support level is at $2.7346.

XRP

Potential Shakeout Scenario

A possible shakeout may lead to XRP temporarily dipping below $2.8.
Support during such a dip could be at $2.3375.
Current dynamics might differ from past September trends, potentially avoiding a downturn.

XRP is currently trading at $3.06, up 1.8% in the last 24 hours, maintaining a bullish macro structure above $1.9061. It has increased by 10% since September began. A Fed rate cut probability above 97% might further boost XRP and other major cryptocurrencies.