The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as tensions flared between Iran and Israel, Ripple’s native token dipped below the $2 mark. Trading volume surged over 40% in just 24 hours as worried investors rushed to adjust their positions.
XRP had a strong start to the year, climbing near its previous highs back in January. Legal wins against the U.S. SEC and Ripple’s growing partnerships had fueled hopes for a breakout above previous highs. However, the recent selloff triggered by geopolitical tensions knocked the token off its path.
XRP briefly fell to $1.91 before bouncing back, but it’s now facing a tough resistance level around $2.28.
However, now that XRP and majority of the altcoins have bounced back, altcoin season speculations are back. Popular analyst Dark Defender said that XRP is gearing up for a big move, with the price approaching an important point on the weekly charts.
According to his analysis, XRP is about to break out of a descending triangle pattern, a formation that often signals a big price shift. The token has been holding steady around the $2 mark, it won’t stay there for long. “The Break Is Imminent towards ATH,” the analyst wrote.
| Resistance Levels | Support Levels |
| $2.19 | $2.07 |
| $2.22 | $1.88 |
| $2.33 |
XRP is still maintaining a cup pattern, which often hints at an upcoming rally. Additionally, the Ichimoku Clouds, a popular technical indicator, are also showing bullish signs. At the time of writing, XRP price has gained 12 % and is trading at $2.19.
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