TL;DR

XRP broke the $3.03 resistance with its weekend close, setting the stage for a potential rally toward $3.65 soon. Weekly RSI nears bullish crossover, signaling possible continuation of upward price momentum. $2.80 remains critical support as whales sell over $500M XRP with minimal price impact.

XRP Moves Above Weekly Highs

Ripple (XRP) closed the recent weekly candle above $3.03, surpassing its previous all-time high on the weekly chart. This move took place alongside a break of a descending trendline that had been in place since July. Market participants are watching this closely as it marks a shift from the pattern of lower highs seen in previous weeks.

Analysts are viewing the breakout as a technical development that could lead to further movement. The $3.03 level, previously acting as resistance, may now offer support. If the asset holds, the next target is around $3.65, a level previously identified during earlier moves.

$XRP closed above our previous weekly ATH and arguably broke our current downtrend.

Watching for weekly RSI bullish cross. pic.twitter.com/0d1JXvST3g

On the weekly chart, XRP’s Relative Strength Index stands at 58, with the RSI moving average slightly higher. The two lines are close to crossing, which would indicate rising strength in price movement if completed.

Cryptoinsightuk commented that they are “watching for weekly RSI bullish cross.” This technical signal is being monitored as it tends to appear ahead of trend continuation when supported by price and volume. A confirmed crossover could support XRP’s recent breakout from the downtrend.

Short-Term Chart Pressured by BTC Pair

On the daily timeframe, the asset closed with minor losses. The XRP/BTC pair was the primary influence, as it traded lower. This movement is not unusual, as XRP/BTC is testing a symmetrical triangle pattern and reacting to a recent double-top.

According to Cryptowzrd, XRP will likely show more decisive price action if it clears $3.1320. They noted,

“As soon as the market moves above the $3.1320 resistance target, it will offer an impulsive bullish move.”

The zone remains a focus for short-term traders looking for a new entry. Until then, short-term price action may stay limited.

Support at $2.80 Holds Over 2 Billion XRP

Glassnode’s cost basis distribution heatmap shows that over 2 billion XRP are held between $2.80 and $2.82. This range has become one of the largest supply concentration areas in recent weeks. Activity in this zone indicates that a large number of holders entered the market around these prices.

$2.80 is the most important support level for $XRP! pic.twitter.com/TH5osWEl3I

Ali Martinez, a market analyst, called this range “the most important support level for $XRP.” The asset has remained above this area, reinforcing it as a level where holders are defending positions. If it moves lower, this area is expected to serve as strong support.

As reported by CryptoPotato, recent data shows large XRP holders, often referred to as whales, have reduced their positions. Last week, 40 million XRP were sold within 24 hours, equal to more than $120 million. Over the past two weeks, this figure rose to 160 million XRP, totaling nearly $500 million in value.

Despite this, XRP’s price held above $3 and moved higher to reach $3.19 on Saturday. This was the highest price level in a month. The market’s ability to absorb this volume without a sharp decline shows continued demand at current levels.