In recent market movements, XRP has seen mixed price action and is down by more than four percent on the weekly chart. At press time, XRP is trading at $3.12 and has slightly drifted to the green zone.
There is a scenario where XRP could make one more move to the upside before a potential shift in trend. As of now, the price is expected to rise, potentially reaching a new peak. However, the crucial question remains: will this push higher lead to further gains, or will it mark the peak of the rally before a correction begins?
After a five-phase pattern, a major top or larger correction typically follows, signaling increased risk. This doesn’t necessarily mean a bearish trend, but the current rally could be nearing its end.
On the smaller time frame, XRP is facing resistance at its all-time high of $3.30. A breakout above this level could see the price surge towards new targets, including $4.19, $5, and possibly even $6.61.
XRP recently completed an internal triangle pattern, which broke out to the upside on January 13. However, the price failed to break above its all-time high and has since entered a consolidation phase. There is no clear breakout signal at the moment, and the price is holding above key support levels between $2.52 and $2.94.
These support levels have been respected multiple times, and the price recently reacted to the $2.81 level, which represents a 50% retracement. The expectation remains for a continuation to higher prices, with potential moves to $4.90 or even $5. However, it’s also possible that XRP may form another low before continuing upwards.
Traders should watch for a breakout above $3.30–$3.40 to confirm the continuation of the bullish trend. Until that happens, a pullback to the lower support levels remains a possibility.
XRP’s price could continue its upward momentum, potentially reaching higher levels like $4.90 or even $5 by 2025, depending on market conditions.
XRP is expected to rise further, potentially reaching new highs, but a correction may follow after a strong push.
In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…
Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…
Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…
In a year marked by conservatism and a sentiment shift in crypto, one name is…
Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…
The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…
