XRP Attempts to Confirm $3 Support After Market Pullback

XRP is currently testing the $3.00 support level after a recent market pullback, with analysts indicating potential risks of a retest of lower range levels before any bullish momentum can resume.

XRP’s Daily Close Key For Momentum

XRP has stabilized between $2.85-$3.10 following market volatility.
The price surged 7% from Monday's lows to around $3.08 before retracing to $3.00.
Analyst Ali Martinez noted XRP faced rejection at local resistance near $3.10 for the third time, indicating possible correction to range lows.
If support fails, prices could drop to $2.83, risking deeper corrections.
Should bullish momentum continue, XRP could rally to August highs of $3.20-$3.40.
Analyst Cryptoinsightuk highlighted a positive daily close and a bullish RSI, emphasizing the need for sustained momentum and volume.
A daily close above $3.14 may set the stage for a rally to $3.40 in upcoming weeks.

Is A 2017-Like Rally Coming?

XRP has been consolidating in a bullish pennant since its July ATH of $3.65.
Analyst GalaxyBTC observed XRP's price compressing between parallel levels, reminiscent of its 2017 performance.
Historical patterns suggest that breaking out from previous ATH resistance may lead to significant price rallies.
The XRP/BTC pair is nearing critical resistance at 0.00003014, which could trigger price discovery in the USD pair if broken.
XRP is currently trading at $3.02, reflecting a 3.3% weekly increase.