- XRP maintains its $3 floor as support, consolidating within a broadening wedge between $3.04 and $3.17 resistance.
- XRP/BTC’s seven-year consolidation phase reinforces the significance of current price levels and long-term range stability.
- The resolution of the SEC case and potential XRP spot ETFs present key factors that could influence future price movement.
XRP was trading at $3.12 after a 1.9% increase in the past 24 hours. The price remains above the $3.04 support level while consolidating in a “broadening wedge” pattern. This technical structure typically reflects price expansion between rising resistance and declining support lines.
This recent change has come along with XRP/BTC in a consolidation state lasting almost seven years, forming a clear range. It is worth noting that this consolidation is in tandem with an environment with regulatory developments and looming market catalysts.
Price Structure and Key Levels
The $3 floor continues to hold a significant support area for XRP. Price action has tested this level repeatedly without a breakdown, confirming its importance. Immediate resistance sits near $3.17, which currently contains upward momentum.
The ongoing wedge formation highlights expanding volatility as XRP’s range gradually widens. A breakout from this structure would require a decisive move above resistance. Until then, price remains trapped within the current consolidation zone. This interaction between support and resistance levels has reinforced short-term trading behavior around the $3 range.
Long-Term Consolidation and ETF Catalyst
XRP/BTC is currently in the range-bound movement over nearly seven years. Historical records have shown that preceding years of strong directional returns have been preceded by such periods. This extended consolidation has built a clear structure that traders continue to monitor closely.
Additionally, the conclusion of the SEC case has removed a major source of uncertainty for the market. Alongside this, pending XRP spot ETF approvals have gained attention as a potential factor that could influence trading behavior. These developments, combined with XRP’s established price levels, add context to its current position within the wedge.
XRP Holds Key Range as Market Awaits Next Price Move
XRP’s price behavior now resembles its setup in late 2024 when a breakout followed a similar consolidation phase. The current $3 floor serves as a critical level anchoring this structure. Furthermore, the short-term trading perspective is framed within the price range between the support at 3.04 and the resistance at 3.17.
At these remaining rates, XRP is on hold as it tries to plot its next step. The market is still appraising technical factors and a list of future events that would inform the subsequent stage of price discovery.
