
XRP Struggles at Key Resistance: XRP faces resistance at $2.34 while holding support at $2.30; a breakout above $2.44 could signal further gains.
Bullish Pattern in Progress: A potential inverse head and shoulders pattern hints at a breakout toward $3+, but confirmation is still needed.
The price of XRP has been moving quietly without any big changes over the past few days. On the daily chart, XRP recently dropped below an important resistance level at $2.34. Right now, itโs finding some support around $2.30, but it keeps struggling to climb back above $2.34, which has turned into a new resistance point.
If the price can break and stay above this level, the next targets would be around $2.44, and then a stronger resistance between $2.55 and $2.62.
For now, the market is still within a bullish trend, meaning itโs making higher lows and higher highs โ but a proper bounce is needed soon to keep that uptrend going.
Thereโs also a chance that XRP is forming an inverse head and shoulders pattern on the daily chart. If this pattern completes and the price breaks above $2.62, it could push XRP to new highs, possibly even beyond $3. However, this pattern is not confirmed yet โ it still needs to form the right side of the pattern and break above key resistance levels.
Short-Term Market Movement
The price has been stuck between $2.15 and $2.31 with no strong move either way. A small five-wave drop was seen from Fridayโs high, but it hasnโt led to a bigger price drop.
As long as the market stays below $2.43โ$2.44, thereโs still some downward pressure. If XRP drops further, key support levels to watch are around $2.15 and $1.95. However, this pullback looks more like a healthy correction rather than the start of a major downtrend.
Whatโs the Bigger Picture?
Even with this short-term weakness, the overall market structure still supports a bullish outlook. There was a clear five-wave move up from the April low to May 12, and now the market seems to be going through a normal pullback phase. As long as XRP stays above the important support at $1.79, the long-term bullish trend remains safe.
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FAQs
The SEC lawsuit settlement clarifies XRP’s status, potentially boosting institutional adoption and its utility for cross-border payments.
Many analysts predict XRP has significant upside, with some forecasting a major surge, especially if a spot ETF is approved and institutional adoption grows.
XRP could reach up to $5.81 in 2025, driven by bullish trends, legal clarity, and growing institutional adoption.