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Home » Altcoins » can bulls break the $2.42 barrier?
Altcoins

can bulls break the $2.42 barrier?

Crypto Observer StaffBy Crypto Observer StaffJuly 7, 2025No Comments3 Mins Read
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XRP has been one of the few altcoins showing strength amid broader market hesitation. But as price approaches a critical resistance zone, volume will be the deciding factor for the next move.

Ripple’s (XRP) price is defying broader market weakness with a notable rise from high time frame support. After establishing a solid base at $2.99, the asset is climbing back toward major resistance levels. However, the next key challenge lies at the $2.42 region, a level that could determine whether this rally is a temporary reaction or the beginning of a broader bullish move. Let’s dive into the current structure and what traders should be watching next.

Key technical points

  • Support Held at $2.99: This level is in confluence with the value area low of the current volume range, making it a technically significant base.
  • Resistance at $2.42: The point of control and 0.618 Fibonacci retracement are both stacked here, increasing the importance of this level.
  • Volume Decline: Despite price rising, volume has steadily dropped, signaling that a decisive breakout will need strong buyer conviction.

XRPUSDT (1D) Chart, Source: TradingView

XRP found strong footing at the $2.99 support zone, a level that not only acts as high time frame support but also aligns with the value area low of the active volume range. This type of confluence typically supports accumulation and gives rallies stronger foundations. Since holding that level, price has steadily climbed with minimal resistance, until now.

The asset is now nearing the PoC, currently situated around $2.42. This area is highly significant as it aligns with both high time frame resistance and the 0.618 Fibonacci retracement drawn from the last major swing high to the $1.92 support low. It forms a dense resistance cluster, meaning any breakout will need to be backed by a clear spike in volume.

So far, the rally has occurred on declining volume, a common warning sign that momentum may stall unless new participants enter the market. If XRP can reclaim and close above the PoC with conviction, especially if accompanied by volume surges, it opens the probability of a rally to the $2.58 level and potentially beyond.

What to expect in the coming price action

All eyes are on the $2.42 zone. If XRP breaks above this level on strong volume, it would signal renewed bullish momentum with upside targets around $2.58. However, failure to breach could trigger a rejection and rotation back toward support. Until then, traders should monitor volume closely, it’s the key to confirming the breakout.

Read the full article here

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