XRP Has No Major Resistance for Massive Rally After Defending $2.80 Support: Analyst
XRP traded near $2.98 at press time, gaining 2% in the last 24 hours and 6% across the week. Analysts point to $2.80 as a key level that could determine whether the token continues its rebound.
$2.80 Holds as Key Support
Crypto analyst Ali Martinez said XRP defended $2.80, which has become a realized cost basis for a large number of holders. Data from Glassnode shows that about 2.18 billion tokens, equal to over 3% of the circulating supply, last moved at this price point.
Below this level, realized distribution is much thinner, meaning fewer holders are positioned to sell. That reduces immediate selling pressure, leaving the token more room to rise if demand builds.
Breakout Watch Near $3.18
Analyst CoinsKid pointed to a descending triangle pattern where XRP has compressed between falling resistance and horizontal support. The price is again testing resistance below $3.00, while $2.80 remains the base.
CoinsKid said,
They also warned that a rejection could roll price back toward the ascending white trendline below $2.8. This structure, they explained, could form an “expanding leading diagonal setup” that still leaves scope for a larger advance over time.
Source: CoinsKid/X
$3.13 Seen as the Pivot Level
EGRAG CRYPTO identified $3.13 as the pivot point, calling it a decisive barrier on the Fibonacci retracement chart. A close above it would confirm continuation and open a target around $4.4, with further extensions toward $6 and $7 marked on his chart.
These downside levels align with the broader channel, keeping the longer-term structure intact even if corrections follow.
In addition, the technical setup comes as XRP adoption expands. Japanese giant SBI Holdings recently launched an XRP lending program aimed at institutional payments. Meanwhile, Ripple CTO David Schwartz has stepped into an emeritus role.
As CryptoPotato reported, several spot XRP ETF filings await SEC decisions starting Oct. 18. These developments, alongside XRP’s test of resistance levels, make the coming weeks critical for both price action and adoption trends.
The post XRP Has No Major Resistance for Massive Rally After Defending $2.80 Support: Analyst appeared first on CryptoPotato.
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