- XRP is consolidating near $3.00 within a bullish rectangle, signaling extended accumulation ahead of a possible breakout.
- The $2.98 support and $3.04 resistance form a narrow range that will decide whether XRP continues upward or reverts to channel trading.
- Ten months of steady accumulation near the upper boundary of the ascending channel strengthen the case for a breakout-driven move.
XRP continues to trade within a long-term ascending structure as price action reflects steady accumulation over the past ten months. The chart shows a bullish rectangular pattern forming near the upper boundary of the channel, often referred to as the “Bifrost Bridge.”
On Friday, XRP traded at $2.99, recording a fall of 1.5 percent in the last 24 hours. The token has stayed on track above the immediate support, although short-term so far, it has pulled back, which continues to focus on whether the consolidation phase will resolve further upwards.
Price Action and Key Levels
The latest data places XRP just above its current support at $2.98. Resistance is located close by at $3.04, creating a narrow trading corridor that has restricted movement in recent sessions. This setup follows nearly a year of accumulation along the higher band of the channel, suggesting that market participants remain focused on the upcoming breakout decision. While the decline within the past 24 hours highlights existing selling pressure, buyers have so far defended the $2.98 floor.
Chart Structure and Market Behavior
The broader chart highlights a multi-year ascending channel with XRP trading consistently within its bounds. Over the last ten months, price movement has clustered near the upper range, consolidating within a defined rectangle. Historical activity within this structure suggests that extended accumulation often precedes stronger directional moves. Notably, the bullish rectangle shown on the chart indicates the areas of entry, stop, and potential target, with the market still operating within the entry zone.
XRP Holds Near $3.00 as Market Awaits Breakout or Reversal
The current position near $3.00 has placed market attention firmly on whether XRP can sustain its breakout attempt . A decisive move above $3.04 resistance could provide further room toward higher levels, while any breakdown below $2.98 would point back to range-bound behavior within the channel. The extended consolidation period underlines the significance of this level, as the outcome may guide the trajectory for upcoming sessions.
