XRP bounced to $1.91 after dipping to $1.61, now facing key resistance at $2.00 and $2.14 EMA
Large whale transfer of 200M XRP to Binance signals potential volatility ahead
Analysts divided: Ali Charts sees possible drop to $1.30, while Dark Defender notes $1.88 support holding
RSI at 35.12 indicates bears currently control XRP price action
XRP may need to recover above $1.80 support level before potentially targeting a rise toward $3.21
XRP’s price has shown notable volatility this week, experiencing both sharp declines and partial recoveries that have left traders and analysts divided on its next potential move. The cryptocurrency dropped to a daily low of $1.61 on Tuesday during a broader market downturn before rebounding to trade around $1.91 at press time.
This recovery represents a 7% gain over the last 24 hours, according to recent data.
The current price action places XRP at a critical juncture as it attempts to stabilize after recent market turbulence.
Trading volumes remain substantial, with daily transaction amounts reaching $12.09 billion against a market capitalization of $104.24 billion.
The rebound suggests some resilience in XRP despite widespread selling pressure across cryptocurrency markets.
Key Resistance Levels
For XRP to regain clear bullish momentum, it must overcome several key resistance levels. The immediate hurdle is the psychological $2.00 mark, which has proven difficult to breach.
More importantly, technical analysts point to the 20-day Exponential Moving Average (EMA) near $2.14 as a critical barrier.
A decisive breakout above these levels with strong trading volume could potentially trigger a rally toward higher targets.
On the hourly chart, a connecting bearish trend line has formed with resistance at $1.935, coinciding with the 61.8% Fibonacci retracement level.
Additional resistance zones exist at $2.05, $2.12, and $2.20, which could serve as obstacles for any sustained upward movement.
Whale Activity Raises Caution
Market participants remain cautious following a significant whale transaction detected by on-chain tracker Whale Alert. A known Ripple whale transferred 200 million XRP tokens, valued at over $355 million, to the Binance exchange.
Such large movements to exchanges often precede increased selling pressure or heightened market volatility.
This transaction has prompted speculation about potential short-term price corrections despite the recent bounce.
Experienced traders are watching for any unusual volume patterns that might indicate further large-scale selling or accumulation.
Analyst Predictions Diverge
Current analyst outlooks on XRP show a clear division. Crypto analyst Ali Charts highlighted a potentially bearish scenario, noting a possible head-and-shoulders pattern forming on XRP’s chart.
$XRP is breaking out of a head-and-shoulders pattern, setting the stage for a potential move to $1.30! pic.twitter.com/Uqr2SiX6z7
If confirmed, this technical formation could signal a decline toward the $1.30 level before any meaningful rebound.
In contrast, analyst Dark Defender offered a more stable perspective, emphasizing that key monthly support at $1.8815 is holding firm.
This suggests XRP isn’t in danger of immediate collapse as long as that support level remains intact.
Some technical experts predict XRP may briefly drop below $1.80 before potentially surging higher again.
Technical Indicators
The daily chart shows the Relative Strength Index (RSI) at 35.12, indicating bears currently control XRP price action. The gradient of the line suggests consolidation at current levels.
XRP price is situated at the lower end of the Bollinger Bands after experiencing a bearish breakout in the past two days.
The ADX indicator is currently below 25, suggesting the current downward trend isn’t particularly strong, possibly indicating an upcoming price recovery.
Key support levels to watch include $1.85, $1.80, and the critical $1.65 zone that was tested during the recent dip.
If XRP fails to maintain the $1.80 support, it could trigger further selling toward the $1.74 and $1.65 levels.
Future Price Targets
Should market conditions improve and XRP overcome current resistance levels, some analysts project a potential rise toward the $3.21 resistance zone.
This would represent gains of approximately 70% from the current $1.80-$1.90 price range.
During the last upward trend, XRP experienced a massive 490.25% increase in trading activity, demonstrating significant trader enthusiasm.
However, before such targets can be considered realistic, XRP must first establish stability above the immediate resistance levels and confirm a trend reversal.
The cryptocurrency’s path forward will likely depend on broader market sentiment, regulatory developments, and the strength of key support levels in the coming days.
For now, traders are closely monitoring the $1.80 support zone and watching for any signs of increased buying pressure that might push XRP back above the crucial $2.00 level.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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