XRP Nears Critical Resistance Level, Breakout Scenario in Play

The 12-hour chart reveals the formation of an ascending triangle, a bullish pattern that typically results in an upward breakout 70-75% of the time.

XRP price analysis for the weekend reveals a critical juncture for the cryptocurrency as it attempts to break through a crucial resistance level.

Technical indicators on the 12-hour chart suggest a high probability of an upward breakout if buyers can push XRP past $3.

However, strong selling pressure at this level could hinder the rally, potentially leading to another failure and a price drop toward $2.50.

XRP price faces strong selling pressure at $3

Multiple rejection wicks on the 12-hour chart indicate that XRP price is encountering significant selling pressure at the round-number level of $3.

This zone has acted as a major resistance barrier, preventing XRP from advancing further.

However, technical indicators are hinting at a potential breakout scenario.

12-hour XRP price chart. Source: TradingView

If buyers manage to propel XRP price above $3 with strong volume, it would serve as a confirmation of bullish momentum.

In such a case, the price could rally toward the $3.2–$3.4 range, where it may face another round of selling pressure.

On the other hand, if XRP fails to break past $3 and encounters another failure at this level, it could result in continued consolidation or a potential pullback toward $2.50–$2.60.

XRP price poised for a breakout or rejection

The 4-hour chart provides further insight into XRP price action, showing that the cryptocurrency is consolidating just below the $2.74 resistance level.

This zone is crucial for both buyers and sellers, with the former attempting to push XRP price higher and the latter aiming to keep it within a range.

4-hour XRP price chart. Source: TradingView

The Relative Strength Index (RSI) is at 44.52, indicating that XRP price is in a neutral to slightly oversold zone.

If the RSI moves above 50, it would suggest a shift toward increased bullish momentum.

The Bollinger Bands are also tightening, which usually indicates reduced volatility and an upcoming breakout.

If XRP price closes above the upper Bollinger Band (~$2.74), it could trigger an upward move toward $3.2–$3.4.

However, if the price fails to hold support around $2.50–$2.60, a deeper retracement toward $2.30 or even $1.86 could follow.

Key levels to watch for XRP weekend traders

The 200-day EMA (Exponential Moving Average) is currently acting as a key resistance level for XRP price near $2.64.

A golden cross between the shorter-term 50 EMA and 200 EMA would signal a bullish trend shift, but XRP needs strong buying volume to confirm this move.

4-hour XRP price chart. Source: TradingView

The MACD histogram remains flat, indicating that traders are waiting for a clear directional move before making big bets.

A bullish crossover on the MACD line would confirm that momentum is shifting toward the upside.

XRP price is at a decision point, with either a breakout or rejection likely over the next few sessions.

If volume picks up and XRP price closes above $3, a breakout toward $3.2–$3.4 is likely.

However, if momentum weakens, XRP price may see an extended consolidation phase or a drop toward $2.50 before another breakout attempt.