XRP is currently down over 2%, trading at around $2.20. The price seems to be fluctuating within a narrow range, but not all signs are unfavorable for XRP. Although XRP has seen net outflows for eight consecutive days, recent market data suggests that selling pressure is beginning to ease—this could be a sign that the token is nearing a bottom.
Bullish patterns and big price targets.
Despite the current decline in Ripple's price, some analysts remain optimistic about Ripple's future price trends. Cryptocurrency analyst EGRAG Crypto revealed that Ripple is forming a pattern he calls a 'macro channel,' with prices ranging between $17 and $55.
According to his latest chart, XRP is currently forming 'Candlestick 5' in this long-term structure. If historical trends repeat, he believes the market might soon see monthly candlesticks, with a mid-term target price of $17. EGRAG personally sets a target price of $27 and plans to gradually take profits as the price rises.
The new setup points to $6.50 as the next breakout area.
Another analyst has found a bullish signal in the XRP price chart. They predict that XRP will break above $6.50, which means its price could rise significantly by 200% from current levels.
The daily Relative Strength Index (RSI) shows a descending triangle pattern and has experienced a bullish crossover. Since the end of 2024, the RSI has undergone several months of downward trend, with the recent upward trend indicating a shift in market momentum.
The chart shows key resistance levels at $2.49, $3.00, and $3.39. The plan for XRP is to first break through the descending triangle, test these resistance areas, and ultimately aim for $6.50—a potential peak slightly higher at $6.82.
Key dates for XRP's next major moves.
In this bullish forecast, an important date to watch is Saturday, May 10, 2025. This could be a decisive moment for the XRP trend.
The token could either break through the $3.00 resistance area with strong momentum or face rejection, leading to a pullback to around $1.61.
