XRP recently tested the $3.20 resistance level but encountered selling pressure that prevented a decisive breakout. Despite this temporary setback, technical indicators and on-chain metrics suggest that bullish sentiment remains firmly intact. Market analysts point to strong support forming around the $3.00 level, with increased accumulation from institutional investors and retail holders alike. The cryptocurrency has demonstrated resilience during recent market fluctuations, maintaining its position within an ascending channel pattern. Trading volume has remained consistently elevated, indicating sustained interest from both buyers and sellers. Several prominent analysts have noted that the current consolidation phase appears healthy, potentially setting the stage for another upward movement. While the $3.20 resistance presents a short-term challenge, the overall market structure continues to favor the bulls. Some technical analysts are projecting that if current support levels hold and trading volume increases, XRP could target significantly higher price points in the coming months. Market participants are closely monitoring key resistance levels and institutional flow data for confirmation of continued upward momentum.
