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Reading: token retraces from highs, $2.80 support could trigger fresh breakout
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Finances Investing and Crypto News > Blog > Market > token retraces from highs, $2.80 support could trigger fresh breakout
Market

token retraces from highs, $2.80 support could trigger fresh breakout

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Last updated: 02/08/2025 12:58 Sáng
admin
Published 02/08/2025
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Contents
Key technical pointsWhat to expect in the coming price action

XRP has pulled back 7.14% from its recent local top, entering a corrective phase after a strong upward move. Despite this retracement, the structure remains bullish as long as key support levels hold.

Summary

  • XRP has pulled back and is now approaching key support at $2.80.
  • The $2.80 zone aligns with the 0.618 Fibonacci, value area high, and HTF structure.
  • If support holds, a higher low may form, continuing the bullish trend toward new highs.

Following a sharp expansion driven by a reclaim of the point of control, Ripple (XRP) has now rejected from recent highs and is approaching a critical support zone. The next major technical level lies at $2.80, a region that aligns with the 0.618 Fibonacci retracement, the value area high of a previous volume range, and high-timeframe structural support. This confluence makes it a key area for a potential reversal and higher low formation.

Key technical points

  • $2.80 Key Support Zone: Confluence of high-timeframe support, 0.618 Fibonacci, and value area high.
  • Point of Control Below: If $2.80 is lost, the POC becomes the next high-probability reversal level.
  • Bullish Market Structure Intact: Higher lows continue to form, keeping long-term trend biased to the upside.
XRP crypto news: token retraces from highs, $2.80 support could trigger fresh breakout - 1
XRPUSDT (1D) Chart, Source: TradingView

The rejection from recent highs has triggered a natural corrective move, which is currently finding its way toward the $2.80 region. From a structural perspective, this correction is considered healthy, as it allows price to potentially establish a higher low within an ongoing bullish trend. As long as $2.80 holds, the market structure remains intact and favors continuation to the upside.

The significance of the $2.80 level is elevated due to the confluence of technical factors supporting it. If bulls can defend this zone, a reversal toward previous highs and potentially new all-time highs could take shape. Multiple candle closes above this support level, combined with increasing bullish volume, would provide the confirmation needed to validate this area as a new base.

If $2.80 fails to hold, the next logical support is the point of control. This zone also holds multiple technical confluences and may act as a second potential reversal area. Maintaining structure above the point of control would still preserve the broader bullish trend, although the setup would require more time to reestablish directional strength.

Volume remains a key confirmation tool. A rise in bullish volume at support would signify that demand is returning to the market, increasing the probability of a bottoming formation and reversal. Without this volume, the market may continue consolidating or see further downside rotation before demand reappears.

What to expect in the coming price action

XRP is approaching a high-confluence support zone at $2.80. If this level is defended with strength, a bullish reversal and continuation toward new highs becomes more probable. Failure to hold would shift focus to the point of control for the next reaction zone.

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