XRP Faces $3.20 Barrier: Will It Spark a Bullish Turnaround or Trigger a Downward Trend?
- XRP faces critical $3.20 resistance, with analysts warning a breakout could trigger a bullish reversal or a decline toward $1. - Technical indicators highlight $2.20 as key support, while Ripple's SEC settlement and potential ETF approval boost institutional optimism. - Developer Harry Harald cites $4 price target based on historical patterns, though risks persist from whale-driven volatility and regulatory shifts. - Long-term projections suggest $25 potential by 2025 if macroeconomic conditions align, b
XRP finds itself at a crucial crossroads, with traders watching closely to see if it can surpass the important $3.20 resistance—a move that could spark a notable rally. At present, the token is trading around $2.76 after dropping 3.19% in the last 24 hours, lagging behind the wider crypto market’s 2% decrease. Analyst Egrag has identified two significant price areas: a support near $2.20 and a breakout target at $3.20. The ongoing sideways movement hints at a possible trend reversal, with the potential for either a strong upward surge or a slide toward the $1 mark XRP Price Eyes $3.20 as ETF Hopes and RLUSD … [ 1 ].
Technical signals and blockchain data highlight the importance of the $3.20 threshold. According to Egrag, XRP has been confined to a range for several months, and a firm close above $3.20 would indicate a bullish turnaround. On the other hand, falling below $2.20 could renew bearish momentum. Activity from both retail investors and large holders has increased volatility, with big sell-offs sometimes countered by retail buying. This has led to mixed market sentiment, though many bulls remain hopeful about XRP’s future prospects XRP Price Eyes $3.20 as ETF Hopes and RLUSD … [ 1 ].
On the fundamental side, recent events have strengthened the positive outlook. Ripple’s settlement with the SEC has improved institutional sentiment, and the possible approval of spot XRP ETF applications by mid-October could bring in substantial institutional capital. Furthermore, Ripple’s RLUSD stablecoin expansion into Japan is set to boost the XRP Ledger’s position in international payments. Well-known developer Harry Harald has fueled bullish expectations with a $4 price projection, referencing historical trends and a TD Sequential buy signal on the 4-hour chart, which has been accurate 60–70% of the time in the past XRP Price Eyes $3.20 as ETF Hopes and RLUSD … [ 1 ].
Nonetheless, there are risks if XRP cannot clear the $3.20 barrier. Experts caution that a continued drop below this point could see the price test lower supports at $2.90 and $2.60, which coincide with previous consolidation zones and technical markers, making them vital for short-term stability. A breakdown could lead to a broader pullback, especially if large holders’ selling outweighs retail demand. The U.S. tax exemption for domestic crypto projects, which offers zero capital gains tax for U.S.-based assets like XRP, might help ease some selling pressure by attracting investors seeking tax advantages.
Looking further ahead, the outlook remains guardedly positive. While short-term swings are likely, broader trends—such as ETF developments and growing institutional interest—suggest XRP could reach new multi-year peaks. Phantom DeFi’s forecast of $25 by the end of 2025, though speculative, illustrates the token’s potential if favorable macro conditions and technical patterns align. Still, investors should exercise caution, as regulatory changes, shifts in sentiment, and liquidity issues could all impact future performance XRP Price Eyes $3.20 as ETF Hopes and RLUSD … [ 1 ].
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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