XRP is approaching a critical level, which way are ripple traders this week?

XRP is trading near $3 with a bullish flag setting. Analysts see a breakout above $3.15 possibly pushing the price to $3.4 – $3.6 soon.

XRP is trading near the $3 mark after falling slightly over the past 24 hours, while still up 3% over the past week. The price is around $2.97, with a daily trading volume of around $6.2 billion.

Analysts are watching price levels between $3 and $3.15 for signs of a breakout that could push XRP to $3.4.

XRP forms a bull flag near $3.00

Analyst Cryptoinsightuk said that XRP is showing a bull flag pattern on the 4-hour chart. Price consolidates below $3 after a move from $2.72, forming higher lows and lower highs. This type of structure may indicate a pause before the next move higher.

Notably, the relative strength index is almost 52, showing neutral momentum. Volume is stable but has not yet confirmed a breakout. Cryptoinsightuk said,

Look at a small bull flag here $xrp.

I think a break at the upside would be a minimum target of $3.40ish where we see hourly liquidity staying pic.twitter.com/fhsti97rzi

– Cryptoinsightuk (@Cryptoinsightuk) October 7, 2025

A liquidity heat map shows a concentration of sell orders near $3.4, which corresponds to that target zone. The range between $2.95 and $3 acts as short-term resistance, while $2.72 remains key support if the price moves lower.

Key resistance levels to watch

Analyst Ali Martinez shared that XRP faces a test at $3.15, which could determine its next direction. XRP is trading slightly below this point after climbing support between $2.87 and $2.93. Ali said,,

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“$XRP faces a big test at $3.15. A breakout here could trigger a rally to $3.6.”

The chart he shared shows a path where the price could pass through $3.30 and $3.40 before reaching $3.60 if buyers have control.

If the price does not clear $3.15, near-term support is seen near $2.93 and $2.87. The recent pattern of higher lows shows steady buying interest, but confirmation will only come if $3.15 breaks with strong momentum.

Rising open interest near $3 billion

Cryptoquant data, shared By Sjuul, XRP shows open interest near $3 billion. This increase in open interest indicates that traders are increasing leveraged positions around $3.

Meanwhile, the chart shows bulls and bears in balance as each side positions for the next big move. Similar open interest spikes in the past have usually been followed by sharp price swings. Once XRP decides to break from the $3.00 – $3.15 range, the next clear direction will be found.

Steady price action is observed, although rising open interest implies increased market activity.