$XRP #Xrp🔥🔥 #XRPBoom $XRP $XRP XRP Price Prediction, Elliot Wave Analysis, and More for May 2025
The original token of Ripple, XRP, has been moving sideways in recent days, with analysts closely watching for signs of a breakout or breakdown. While the broader cryptocurrency market is experiencing some selling pressure, XRP has managed to hold key support levels - but its future direction remains uncertain.Short-term price analysisOn the short-term chart, it appears that XRP formed a decline around April 7. However, all subsequent rallies from that point have been corrective, characterized by overlapping messy movements and a three-wave pattern instead of clean trending waves.Support has held at $2.11 so far, with additional support at $2.08 and $2.14. Price briefly broke a minor Fibonacci support recently but quickly recovered without maintaining losses. The market continues to form higher highs and higher lows - a positive sign amid uncertainty.There is an initial Elliott Wave scenario where XRP may be forming a diagonal pattern to the upside, although it is not a particularly reliable setup given the overlapping structure and complexity. A decisive breakout above the descending trendline from the low of April 30 (around $2.12) could indicate the start of the third internal wave.Key resistance levels to watch are $2.33 and $2.46. A clean break from these could spark new upward momentum.Ripple Opens 1 Billion XRP: What Does It Mean?Ripple recently unlocked 1 billion XRP from escrow. While an increase in supply typically puts price pressure down, there is a significant nuance to consider. The market's reaction will depend on how Ripple distributes these tokens.If used for strategic acquisitions - like the shared offering for Circle - it could be bullish for XRP, injecting real interest and revenue into the ecosystem.
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