Yesterday afternoon, I led everyone to make a small profit on XRP, today we will analyze XRP again.
The current trading price of XRP is $2.37, showing bullish momentum. The previous key resistance level of $2.25 has been tested multiple times since January 2025 and is an important Fibonacci retracement level. The current price ($2.37) has broken through this resistance, but the hourly chart shows insufficient upward momentum, which may lead to a retest or pullback.
Bullish Structure:
XRP has formed higher lows and higher highs since the low of $1.60 at the end of April, indicating a macro bullish trend. The rebound from $2.077 (0.382 retracement level) shows buyer control, and the increase in trading volume further confirms the bullish trend.
Technical Indicators:
The hourly RSI is close to 72, indicating overbought conditions, which may lead to a short-term pullback to $2.00 or $1.90 (0.5 and 0.618 retracement levels).
A breakthrough and close above $2.25 may turn resistance into support, with targets looking towards $2.36 (April high) or even $2.70.
Potential Scenarios:
Bullish: If XRP closes above $2.25 on the daily chart, the next target would be $2.36, with a long-term potential of reaching $2.70.
Bearish: If the $2.25 resistance is not broken, the price may pull back to the support areas of $2.00 or $1.90.
Advice:
Closely monitor the daily close at $2.25 to confirm the validity of the breakout.
Short-term traders should be wary of RSI overbought signals, which may bring pullback risks.
The current trading price of XRP is $2.37, showing bullish momentum. The previous key resistance level of $2.25 has been tested multiple times since January 2025 and is an important Fibonacci retracement level. The current price ($2.37) has broken through this resistance, but the hourly chart shows insufficient upward momentum, which may lead to a retest or pullback.
Bullish Structure:
XRP has formed higher lows and higher highs since the low of $1.60 at the end of April, indicating a macro bullish trend. The rebound from $2.077 (0.382 retracement level) shows buyer control, and the increase in trading volume further confirms the bullish trend.
Technical Indicators:
The hourly RSI is close to 72, indicating overbought conditions, which may lead to a short-term pullback to $2.00 or $1.90 (0.5 and 0.618 retracement levels).
A breakthrough and close above $2.25 may turn resistance into support, with targets looking towards $2.36 (April high) or even $2.70.
Potential Scenarios:
Bullish: If XRP closes above $2.25 on the daily chart, the next target would be $2.36, with a long-term potential of reaching $2.70.
Bearish: If the $2.25 resistance is not broken, the price may pull back to the support areas of $2.00 or $1.90.
Advice:
Closely monitor the daily close at $2.25 to confirm the validity of the breakout.
Short-term traders should be wary of RSI overbought signals, which may bring pullback risks.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
XRP
2.3674
-0.42%
