XRP has shown resilience near the $3.08 level, maintaining a critical position above the 21-day exponential moving average (EMA) amid broader market volatility. Analysts highlight that this level acts as a key support, with a sustained recovery potentially setting the stage for a test of $3.29 resistance. The price recently formed a peak-and-dip pattern after surging to $3.60, a move that underscores elevated volatility. Crypto Analyst Cryptoes notes that the 21 EMA’s strength could catalyze a bullish push, while Egrag Crypto identifies XRP as being in wave (5) of a five-wave Elliott Wave structure, suggesting further upward potential [1].

Technical indicators reinforce this optimism. Long wicks on recent candlesticks signal buyers defending key levels, and declining volume suggests easing selling pressure. A breakout above $3.29, however, requires confirmation through a closing price above this threshold. Failure to hold above the 21 EMA could trigger another sell-off, with the $2.80 level flagged as a critical downside barrier by some analysts [2].

Market dynamics reflect a mix of caution and speculation. Open interest in XRP futures surged by 142% during the recent rebound, indicating heightened speculative activity around key price levels. However, a drop in open interest below $10 billion has raised concerns about waning short-term demand. The $3.00–$3.06 range has emerged as a pivotal battleground, with dense liquidity zones on the 4-hour chart amplifying its strategic importance. A confirmed breakout above $3.20–$3.25 could retest $3.40, while a breakdown below $3.00 would likely test $2.85 and risk extended bearish consolidation [3].

Institutional activity further underscores XRP’s near-term prospects. Whale investors have accumulated 130 million XRP as the price approaches $3.82, signaling confidence in the asset’s potential. Analysts argue that stable Bitcoin and USDC inflows could amplify bullish momentum, provided XRP remains above $3.10—a level with repeated buying interest. Conversely, a drop below $2.80 might extend the pullback to $2.60, according to technical analyses [4].

The broader crypto market remains fragmented, with XRP underperforming against Bitcoin’s mixed performance. Despite a 10% drop from recent highs near $3.20, XRP has gained 2% in the past 24 hours, outperforming some peers during the selloff. This divergence highlights XRP’s potential as a decoupling asset, though sustained gains depend on holding above $3.10. The token’s 4-hour chart shows consolidation above $3.00, reinforcing its technical foundation [5].

Analysts remain divided on the immediate outlook. Some predict a V-shaped recovery from $2.97, targeting $3.40–$3.60 if the $3.17 threshold holds [6]. Others caution that a breakdown below $3.00 could trigger a retest of $2.80, with further downside risks materializing. The interplay of volume dynamics and institutional positioning will likely determine whether XRP sustains its rebound or faces renewed bearish pressure.

Sources: [1] [XRP Rebounds 2.4% on Strong Support Amid 142% Surge in Open Interest](https://www.ainvest.com/news/xrp-news-today-xrp-rebounds-2-4-strong-support-142-surge-open-interest-2507/)

[2] [XRP Forms a V-Shape Pattern with $10-$15 Still in Play](https://coinpaper.com/10205/xrp-forms-a-v-shape-pattern-with-10-15-still-in-play) [3] [XRP Price Prediction: XRP Bounces Back After 10% Drop](https://bravenewcoin.com/insights/xrp-price-prediction-xrp-bounces-back-after-10-drop-charts-hint-at-3-55-retest-in-the-short-term) [4] [Whales Scoop Up 130M XRP as Price Eyes $3.82](https://coingape.com/whales-scoop-up-130m-xrp-as-price-eyes-3-82/) [5] [XRP News Today: XRP Gains 2% Amid Crypto Slide](https://www.ainvest.com/news/xrp-news-today-xrp-gains-2-crypto-slide-bitcoin-dips-2-holds-2-99-support-2507/)