XRP price is trading around $3.02 right now, holding its ground as it tests the top of a range that has been in play since mid-July.
Traders are watching to see if today finally brings a breakout or if price will slip back into the lower part of that range.
What you'll learn 👉
What We Got Right Yesterday
Yesterday we pointed out how important the $3.00-$3.05 zone is and flagged $2.60-$2.70 as the key support that’s been holding since August.
That call still stands. XRP hasn’t broken out yet and is still moving between $2.70 and $3.05. Volume is sitting near $510 million USDT, well below the July rally levels, which shows there isn’t a big rush from buyers or sellers.
We also said that only a strong daily close above $3.05 with bigger volume could open the door to $3.60-$3.70, and that move hasn’t come through yet.
What the XRP Chart Is Showing
The chart tells a clear story. XRP ripped higher from $1.90 in late June to $3.66 by mid-July, then settled into a wide sideways range that’s still in place.
Right now, XRP price is leaning on the top of that range at $3.00-$3.05. If bulls can finally break through with solid buying, the next stop could be the July high around $3.60-$3.70. If not, there’s solid backup support down at $2.60-$2.70, with $1.90 further down if sellers really push.
Market Indicators
Data from CoinAnk shows the open interest-to-market cap ratio is steady at 0.032, meaning there isn’t a big spike in leverage.
Net longs are sitting near 6.18 billion while shorts are around 6.37 billion. That’s a pretty balanced picture, with just a slight lean toward shorts. In other words, neither side is in full control and the market is waiting for a trigger.
Read Also: Popular Crypto Investor Says XRP Will Hit $1,000: Reveals Realistic Timeframe
XRP Price Short-Term Outlook for Today, September 12
The key level to watch today is $3.00-$3.05. A daily close above that range with real volume could light up a move toward $3.60.
If that doesn’t happen and price dips back under $3.00, XRP price could slide back toward $2.70 to test support again. Until one of those levels breaks, expect more sideways action inside the same range we’ve seen for weeks.
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