XRP Maintains Position Above $2.95, Exhibiting Structure for Potential Breakout Toward $3.01 Resistance Level
XRP Price Poised for Potential Breakout Above $3.00
The cryptocurrency market is witnessing an interesting development with XRP, as an inverse head and shoulders pattern is forming on its hourly chart. This bullish reversal pattern suggests a likely breakout above the $3.00 resistance level, potentially paving the way for XRP to trade in the $3.10–$3.50 range.
The left shoulder of the inverse head and shoulders pattern was formed during the initial rejection phase, with the head developing following a deeper dip towards the $2.90 zone. The latest candle shows signs of recovery after touching the lower end of the support area, supporting the formation of the right shoulder.
Currently, the XRP price sits just above the green demand area, following a shallow pullback. Price stability around the neckline near $3.00 keeps the potential breakout scenario active. However, neither buyers nor sellers have clear control at the moment, and increased volume would be required to validate any breakout attempts.
Market cap data shows buy and sell values at $177.8 billion each, indicating indecision. Support at $2.93 remains vital for the potential breakout scenario, as it acts as a strong level that prevents further downside and sets a stable base for upward momentum.
The MACD line is above the signal line, with histogram bars showing mild positive strength. Additionally, the RSI readings on the 1-hour chart suggest mild bullish momentum without reaching overbought conditions.
AI models and expert forecasts support this bullish outlook. For instance, AI models predict XRP could reach $3.17 by mid-August 2025, assuming sustained volume and momentum. Conservative technical analysis points to a near-term resistance zone just above $3, with a retest zone between $2.95 and $3.05 acting as critical support. Some forecasts see XRP rising towards $3.12 by end of August, with bullish levels around $3.42 and higher psychological resistance at $4.00 later in the year.
In conclusion, a sustained close above the $3.01 resistance with volume could confirm the breakout. Failure to hold $2.95 support might invalidate this pattern and lead to downside retests. Broader market momentum, volume trends, and upcoming catalysts (e.g., regulatory news) will also influence price action. Traders may closely monitor the $2.93-$3.00 zone for short-term directional clarity.
Investors in the crypto and cryptocurrency finance space are eagerly watching XRP, as it shows signs of a potential breakout above the $3.00 resistance level. This bullish reversal, if confirmed by increased volume, could potentially drive XRP prices towards the $3.10–$3.50 range.
The forming inverse head and shoulders pattern on the XRP hourly chart, accompanied by positive indications from AI models and expert forecasts, suggests an optimistic outlook for XRP investors.
